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.”