Interra Brokers $10.4M Sale of Suburban Mixed-Use Property
Interra Realty has brokered the $10.4 million sale of reVerb Century Station, a mixed-use property in Berwyn, Illinois. The transaction marks a record price for multifamily or mixed-use properties in the suburb.
The 52-unit apartment building with 10,662 square feet of ground-floor commercial space traded for $185,714 per unit. Interra Senior Managing Partner Joe Smazal, Managing Partner Patrick Kennelly and Managing Director Paul Waterloo represented the confidential seller.
Smazal, Kennelly and Waterloo also represented the buyer, an undisclosed investment group that assumed the loan from the seller. “This sale – a new high-water mark for Berwyn – signals a continuation of buyer appetite for high-quality suburban properties,” said Kennelly.
Located at 3200 S. Oak Park Avenue, reVerb Century Station was constructed in 2010. The property features four ground-floor retail suites, 12 one-bedroom apartments and 40 two-bedroom units. Situated in Berwyn’s historic district, the property is near the suburb’s largest employer, MacNeal Hospital, as well as retail and dining options along Harlem Avenue.
Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories.
With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.