Interra Realty has negotiated the $7.5 million sale of a two-building multifamily portfolio on Chicago’s South Side, near the future Obama Presidential Center. The properties on South Paxton Avenue total 79 units and consist of three studios, 21 one-bedrooms, 33 two-bedrooms, 13 three-bedrooms, and nine four-bedroom units.

Lucas Fryman of Interra represented the sellers, Mendy Raskin and Jon Kranzler. They bought the buildings in 2019 for $6.7 million. Brad Feldman of Interra represented the buyer, a local private investor. The portfolio was 94 percent occupied at the time of sale. As part of the transaction, the buyers assumed the existing long-term Fannie Mae loan from the seller.

The portfolio was 94% occupied at the time of sale, and the properties are located within walking distance of the South Shore Cultural Center and South Shore Golf Course.