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 Trio of Deals in Edgewater, Rogers Park
Interra Realty brokered three multifamily transactions totaling $5.5 million in Chicago’s Edgewater and Rogers Park neighborhoods.
The properties, located at 5547 N. Lakewood Ave., 1619 W. Lunt Ave. and 7423 N. Rogers Ave., were fully occupied at closing and marketed by Interra as value-add investments. They traded for $2.6 million, $1.3 million and $1.46 million, respectively.
“Multifamily investors in search of higher yields continue to seek out opportunities on Chicago’s North Side,” said Craig Martin, managing partner at Interra. “While the influx of capital to neighborhoods like Edgewater and Rogers Park is well underway, there are still plenty of older buildings in need of renovation, making it possible for buyers to substantially increase net operating income.”
Newest of the three properties was the 16-unit 5547 N. Lakewood (pictured), which was built in 1937. 1619 W. Lunt was built in 1931 and 7423 N. Rogers dates from 1926.
Connect Chicago Fall 2019 will take place Oct. 29 in Chicago. For more information, or to register, click here.
Subscribe to Connect Daily Chicago
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
