
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.
- ◦Sale/Acquisition