Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Interra Realty Brokers Sale of Albany Park Multifamily Properties
Interra Realty brokered the sale of two multifamily properties in Chicago. The 24-unit 4954 N. Christiana Ave. in the Albany Park neighborhood sold for $4.5 million, and the 10-unit 4321-23 N. Tripp Ave. in the Old Irving Park neighborhood traded for $2.2 million.
Interra Managing Partner Craig Martin represented the seller, HP Ventures Group, in both transactions. Martin also represented the buyers: Eloy Burciaga, who purchased 4954 N. Christiana, and John Krumsee, who acquired 4321-23 N. Tripp. Both properties were fully occupied at the time of sale.
“Chicago’s multifamily market is very active at the moment, especially among local investors looking for high-quality, stabilized assets with no deferred maintenance,” said Martin. “Despite only being on the market for a couple of weeks, these properties generated nearly 60 tours and 15 competitive offers.”
The courtyard-style 4954 N. Christiana includes eight one-bedroom and 16 two-bedroom apartments. 4321-23 N. Tripp features two one-bedroom, five two-bedroom and three four-bedroom layouts.
