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Interra Realty Brokers Sale of Vintage Apartment Building in Old Town
Interra Realty brokered the $2.95 million sale of 1350-1352 N. Cleveland Ave., a six-unit apartment building in Chicago’s Old Town neighborhood. The sale equated to $492,000 per unit.
Interra Senior Managing Partner Brad Feldman represented the seller, Highland Real Estate Partners. Feldman also represented the buyer, a private investment firm. The building was fully occupied at the time of sale.
“Generous layouts have become one of the strongest differentiators in today’s multifamily market, and properties like this one with three-bedroom units really stand out,” said Feldman. “Investors know that spacious workforce housing appeals to long-term renters, which was a major factor behind the strong price-per-unit achieved in this sale.”
Constructed in 1969, the building features six three-bedroom apartments. 1350-1352 N. Cleveland is located close to dining, shopping and entertainment options along Wells Street and North Avenue. The property is also within walking distance of the CTA’s Sedgwick station, served by the Brown and Purple lines, and multiple bus routes.
