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Interra Brokers $9.2M Sale of North Shore Mixed-Use MF Building
Interra Realty has brokered the $9.2 million sale of Art House Eleven 21, a 16-unit, mixed-use apartment building in Wilmette, Illinois. The transaction equated to $576,562 per unit.
Interra’s Managing Partners Lucas Fryman and Craig Martin represented the buyer, Chicago-based HP Ventures Group. Fryman and Martin also represented the seller, a joint venture between 4 Corners, Gabe Horstick and Josh Krueger.
HP Ventures assumed the existing low-interest loan on the property, which was fully leased at the time of sale. Located at 1121 Greenleaf Avenue, the property features six two-bedroom apartments, eight three-bedrooms and two retail spaces.
“We reached out to the most qualified prospective buyers, generating 20 showings and half a dozen offers – validating the thesis that there is very strong demand right now for the right asset in the most desirable locations,” said Martin.
