Interra Realty brokered the $2.2-million sale of an eight-unit apartment building with two ground-floor retail spaces at 900 S. Western Ave. in the West Side’s Tri-Taylor neighborhood. The sale equated to $220,000 per unit, a record for any Tri-Taylor building over five units, per CoStar data.
Director Jeremy Morton and managing partner Ted Stratman of Interra represented both the private seller and private buyer.
“Not many buildings trade hands in this area, but with the Illinois Medical District and University of Illinois at Chicago located just east of the property and Pilsen to the south, it’s poised for continued growth,” said Morton. “The buyer was attracted to the building’s condo-quality construction and the location’s potential appreciation, as well as the opportunity to achieve higher rents by eventually updating kitchens and baths.”
Built in 2008, 900 S. Western features eight two-bedroom apartments. A boutique barbershop occupies one of the retail spaces.
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).