Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
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

