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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.

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About Paul Bubny

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 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).

  • ◦Sale/Acquisition