
Interra Brokers Sale of Marquette Park Portfolio
Interra Realty brokered the sale of a three-building, 37-unit multifamily portfolio in the Southwest Side’s Marquette Park neighborhood for $2.02 million. The sale price equates to $55,000 per unit, one of the highest amounts paid on a per-unit basis in the Marquette Park submarket over the past five years, according to CoStar data.
An Interra team of Jon Morgan, David Goss, Ted Stratman, Lucas Fryman and Max Grossman represented both the seller, Ernst Development, and the private buyer in the transaction.
“The seller achieved very strong prices for these properties, demonstrating continued demand for cash-flowing assets with a small value-add component, particularly in this submarket,” said Stratman.
The three buildings were constructed in the 1920s and underwent renovations between 2018 and 2020. All three were part of an original 10-building portfolio. Five of the properties are under contract, but two others are still available.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition