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Chicago & Midwest  + North Side  + Apartments  | 

Interra Brokers Multifamily Sale in Norwood Park

Interra Realty brokered the $1.92-million sale of 6018-6020 N. Avondale Ave., a 12-unit rental community in the Northwest Side’s Norwood Park neighborhood. The per-unit price was $160,000. 

Managing partner Patrick Kennelly and director Paul Waterloo represented both the private seller, a local family that owned the property for 27 years, and the confidential buyer, also a local family, which acquired it in a 1031 exchange. The new owner plans to make select updates to the property and hold it long-term.

“Investors are attracted to the stability and affordability of multifamily properties on Chicago’s Northwest Side, where assets of this size can be hard to find,” said Waterloo. “Although the building was very well maintained and had some recent renovations, there is room to add value with additional updates that will command higher rents. Because of all these factors, we were able to attract significant investor interest and secure eight offers.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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