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.
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).