
Interra Brokers Sale of Landmarked Bronzeville Multifamily
Interra Realty brokered the $4.15-million sale of Unity Hall Apartments at 3138-40 S. Indiana Ave., a landmarked property in the Gap, a historic section of Bronzeville, that was converted to a 21-unit multifamily community in 2016. The price per unit was $197,619.
Senior managing partner Joe Smazal represented the seller, TRB Properties One LLC, a venture of local developer Tom Boney. Smazal, who was able to attract multiple competitive offers within the first week of marketing, also represented the buyer, a private local investor.
“Buyers were attracted to the quality of the asset and its solid tenant base, as well as its proximity to Lake Michigan, public transportation, multiple colleges and the former Michael Reese Hospital site, which is being redeveloped into a new mixed-use district,” said Smazal. “The Gap, in particular, is blooming with new construction and renovation projects, including other residential developments led by Mr. Boney.”
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- ◦Sale/Acquisition