Interra Realty Brokers Sale of Pilsen Mixed-Use Trio
Interra Realty, a Chicago-based commercial real estate investment services firm, has brokered the $4.18-million sale of a three-building, 33-unit mixed-use portfolio in the Pilsen neighborhood on Chicago’s West Side. Director Jeremy Morton represented both the private buyer and seller in the sale.
The three properties – 1924 S. Throop St., 2301-2303 S. Oakley Ave. and 2300 W. 23rd St. – have undergone some recent capital improvements, yet still offer the new owner value-add potential. In particular, 1924 S. Throop (pictured), located two blocks from the historic music venue Thalia Hall, is 43% vacant.
“Turnkey, stabilized buildings may offer ease of management, but we are seeing a lot of interest in value-add properties with significant potential for increased revenue,” said Morton. “We marketed these properties for four weeks, eliciting over two dozen property tours and eight competitive bids, which shows just how in demand these types of assets are.”
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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).