Chicago & Midwest + North Side + Apartments | January 13, 2022

Interra Brokers Off-Market Deal for Wrigleyville Courtyard Building

Interra Realty brokered the off-market sale of 3708-14 N. Sheffield Ave., a 26-unit vintage courtyard building in the North Side’s Wrigleyville neighborhood. The asset sold for $7.4 million, or $284,615 per unit, as part of a 1031 exchange.

Managing partner Joe Smazal represented the seller, a private New York-based investor. Smazal also sourced and represented the confidential buyer.

“Demand for apartments in Wrigleyville has aways been robust, and new developments around Wrigley Field have only increased the appeal for renters,” said Smazal. “Although 3708-14 N. Sheffield doesn’t have all of the amenities found in the Class A buildings nearby, it’s in the shadow of Wrigley Field and in nice rental quality, offering residents the excitement of the neighborhood at an attractive price point.”

He added, “The buyer quickly recognized the appeal and bought the asset as part of an exchange from multiple smaller multifamily properties.”

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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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