
Interra Brokers Sale of Newer-Vintage Albany Park Rentals
Interra Realty brokered the $11.45-million sale of 3634-48 and 3639-47 W. Montrose Ave., a seven-building, 39-unit rental community in the North Side’s Albany Park neighborhood. The price per unit was $293,590.
Senior managing partner Joe Smazal of Interra represented both the seller, a private East Coast investor, and the buyer, HP Ventures Group. Based in Chicago, HP develops and purchases newer apartment and townhouse projects in Chicago’s outlying markets and suburbs.
“These buildings stood out in an area known for its vintage housing stock, and we were able to attract multiple offers and go under contract in less than a month for close to list price,” said Smazal.
Built in 2013, 3634-48 and 3639-47 W. Montrose include 26 two-bedroom units and 13 three-bedroom duplexes. Units feature fireplaces, kitchens with stainless appliances and stone countertops, and central air. In addition, each unit has a balcony and designated parking spot.
- ◦Sale/Acquisition