Interra Realty brokered the $1.48-million off-market sale of 7526 S. Colfax Ave., a 24-unit courtyard apartment building in South Shore. Managing partner Ted Stratman and director Jeremy Morton represented the private seller and the undisclosed local buyer, which plans to renovate kitchens and baths as the units turn over.
“The buyer was seeking a stabilized, cash-flowing asset with an opportunity to add value, and 7526 S. Colfax fit the bill,” said Stratman. “The strong price reflects multifamily investors’ continued interest in Chicago’s South Side.”
7526 S. Colfax was built in 1928 and has 17 two-bedroom and seven three-bedroom units. The property was 92% occupied at the time of sale.
The nearby Windsor Park Metra station and several CTA bus routes, including the J14 Jeffery Jump express route, provide direct access to downtown. 7526 S. Colfax also is a short walk to Rainbow Beach and Rainbow Beach Park on Lake Michigan.
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).