Family Office Sells Lincoln Square Apartments After 50-Year Hold
Interra Realty recently brokered the sale of 4841 N. Rockwell St., an 18-unit multifamily property in the North Side’s Lincoln Square neighborhood. The property sold for $3.4 million, which equates to $188,888 per unit.
Managing partner Craig Martin represented the seller, a local family office that was in its second generation of ownership, as well as the confidential buyer.
“This building has been in the seller’s family for over 50 years, and they did an incredible job of maintaining and updating it during that time,” said Martin. “We worked with them to identify the optimal time to sell, tapping into our network to find a qualified buyer who saw value in both the asset and its location.”
Located at the northeast corner of Rockwell and Gunnison streets in Lincoln Square, 4841 N. Rockwell includes 18 one-bedroom units, all of which were occupied at the time of sale.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).