
Interra Brokers $17M Deal for Mixed-Use Near Northwestern U.
Interra Realty brokered the $17.1-million sale of 828 Lofts, a mixed-use development with 44 apartments and one street-level retail space at 828 Noyes St. In Evanston, IL, near Northwestern University. The price per unit was $386,636.
Director Colin O’Malley represented the private buyer. The seller, Evanston-based GDS Development, which developed the property in 2018, was represented by Interra director Paul Waterloo and managing partner Patrick Kennelly.
“Renter demand for recently built apartment communities remains high in Chicago’s popular inner-ring suburbs, which in turn is driving strong investor interest in areas like Evanston,” said Waterloo. “In fact, this is the third sale of a newer construction property completed this year in Evanston, and Interra’s 13th apartment building sale in Evanston since 2018.
“Having the anchor of Northwestern University students as a tenant base makes this market, and assets in proximity to the campus, especially attractive to investors,” he added.
- ◦Sale/Acquisition