Four-Building Lincoln Park Rental Portfolio Trades Hands

Interra Realty brokered the $3.4 million sale of 2642-50 N. Marshfield Ave., a four-building, 14-unit rental portfolio comprising two apartment buildings, a single-family home with coach house and a vacant lot in Chicago’s Lincoln Park neighborhood.

Interra Senior Managing Partner Joe Smazal represented the buyer and seller, both local private investors. This is the second major deal Smazal has brokered in Lincoln Park in the last six months, following the $9.6 million sale of a 28-unit multifamily property at 1900 N. Lincoln Ave. in December.

“This was a rare opportunity to acquire four adjacent properties on one block, all of which have been well-maintained and professionally managed and present upside in rent levels,” said Smazal.

The properties were recently renovated with updated kitchen cabinets, appliances and refreshed common areas. The portfolio also features seven surface parking spaces, green space and a community seating area in the vacant lot.

Don’t miss the Lifetime Achievement Award Presentation and Keynote Interview with G. Joseph Cosenza, Vice Chairman of The Inland Real Estate Group, LLC and President of Inland Real Estate Acquisitions, LLC at Connect Midwest: Multifamily, Affordable, Student & Senior Housing Trends on June 4, 2024, at the W-Chicago, City Center Hotel, Chicago, IL. Register Today to network with your peers!