Interra Finalizes MF Sale Near University of Chicago
Interra Realty brokered the $2.27-million sale of 6126-28 S. Woodlawn Ave., a 35-unit apartment building near the University of Chicago Law School in the South Side’s Woodlawn neighborhood. The price per unit was $65,000.
The undisclosed seller was represented by Interra Realty’s Jon Morgan and David Goss, co-founders and managing principals, plus Lucas Fryman and Ted Stratman, managing partners, and Jeremy Morton, director.
The private buyer, who intends to gradually update units as they turn over, was represented by senior managing partner Joe Smazal. Interra was able to attract multiple written offers and shepherd the deal to closing amid the COVID-19 pandemic.
“Woodlawn has been very hot for investors and continues to attract interest despite the current health crisis,” said Fryman. The neighborhood benefits from its proximity to the University of Chicago, which has been pushing south in recent years, without the comparatively higher rents of Hyde Park.”
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).