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Kenwood Apartment Portfolio Sells at 50% Above 2020 Purchase Price
Interra Realty brokered the sale of a 204-unit multifamily portfolio in Chicago’s Kenwood neighborhood. Comprising six buildings, the portfolio sold for $27 million, the equivalent of $132,353 per apartment.
Managing partners Lucas Fryman and Ted Stratman and associate Sam Gutierrez, represented the seller, New York-based real estate investment group Raskin Risers. Fryman, Stratman and Gutierrez also procured the undisclosed buyer.
Stratman and Fryman were part of the Interra team that brokered Raskin Risers’ $17.9-million acquisition of the portfolio in 2020. They’re members of Interra’s South Side team.
“This sale exemplifies investors’ continued demand for rental opportunities on Chicago’s South Side,” said Stratman. “There is strong appetite for buildings in Kenwood and Bronzeville, in particular, as these neighborhoods have seen a renaissance in recent years.”
New ownership plans to upgrade select units with renovated kitchens and baths, executing a value-add strategy that has been successful for previous investments.
- ◦Sale/Acquisition

