Interra Sets Pricing Record with Tri-Taylor Sale
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.
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