Interra Hits a Home Run with $5.45M Sale of Lakeview Building
Interra Realty, a Chicago-based commercial real estate investment services firm, brokered the $5.45 million sale of a 10-unit mixed-use apartment building in Chicago’s Lakeview neighborhood near Wrigley Field. The transaction closed at $545,000 per unit for a total of $5.45 million.
Interra Senior Managing Partner Joe Smazal represented the buyer, Chicago-based HP Ventures Group. Smazal also represented the local private developer in the sale. “Despite headlines reporting low transaction volume, we continue to see strong interest for multifamily properties, especially in coveted neighborhoods like Wrigleyville,” said Smazal.
The property, located at 3301 N. Sheffield Ave., was constructed in 2014 and was fully occupied at the time of the sale. The boutique, luxury building features nine three-bedroom units and one commercial space, currently leased to Jennivee’s Bakery.
This is the second transaction Interra brokered for HP Ventures in 2023. In May, the company acquired Station440, a 48-unit multifamily property in Highwood, Illinois, for $16.9 million.
Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories.
With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.