
Interra Brokers Deal for Luxury Multifamily in Uptown
Interra Realty brokered the $16.9-million sale of a two-building multifamily portfolio in Chicago’s Uptown neighborhood. The Mondrian, located at 4714 N. Sheridan Rd., and 843 W. Agatite Ave. together comprise a total of 50 apartments. The average price per unit was $338,000.
Co-founders and managing principals Jon Morgan and David Goss along with senior managing partner Joe Smazal represented the seller, Chicago-based Mavrek Development, which developed the Mondrian in 2021 and 843 W. Agatite in 2019. Interra director Colin O’Malley represented the private buyer.
“While Uptown historically hasn’t been known for luxury apartments, that’s started to change in recent years as renters look farther north in the city and seek new-construction communities in neighborhoods where vintage buildings are more typical,” said Smazal. “In fact, this deal is the highest price per unit in Uptown in the last 10 years and presumably ever.”