Interra Brokers Sale of Two West Side Multifamily Assets
Interra Realty brokered the $1.365-million sale of a two-building, 20-unit multifamily portfolio in the West Garfield Park and Austin neighborhoods of Chicago’s West Side. The sale price equated to $68,250 per unit.
Associate Sam Gutierrez represented the local private buyer in the off-market deal. Director Max Grossman represented the confidential seller.
“This transaction illustrates the continuing demand for value-add assets on Chicago’s West Side, even in this high-interest-rate environment,” said Gutierrez. “The buyer plans to continue capital improvements at these buildings, which will help increase their revenue over time.”
Located in Chicago’s West Garfield Park neighborhood, 4334-40 W. West End Ave. was built in 1914 and offers 12 two-bedroom units and one three-bedroom unit. The second building, 5019 W. Maypole Ave. in the Austin neighborhood, includes four one-bedroom and three two-bedroom units. Built in 1927, the property has undergone recent renovations.
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).