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.
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.