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Chicago & Midwest  + North Side  + Apartments  | 

Interra Closes on Reinstated Deal for Logan Square Apts.

Interra Realty brokered the $2.075-million sale of 3821-23 W. Wrightwood Ave., a 13-unit multifamily building in Logan Square. The price per unit was $159,615.
Senior managing partner Joe Smazal represented both the private seller and buyer, who acquired the property as part of a 1031 exchange. Originally scheduled to close in April, the sale was canceled in March due to the COVID-19 pandemic.

After the property and market performed well in the months that followed, the deal was reinstated at the original price and terms in late June.
“The buyer owns properties throughout the city and knows Logan Square is increasingly drawing renters willing to pay higher prices for quality residences,” said Smazal. “Although the deal initially went off the track when the pandemic hit, the buyer knew the building was a good long-term investment and came back to the table with equity from the sale of a Lakeview property.”

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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