Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Kenwood Apartments Trade to Buyer with Long-Term Vision
Interra Realty brokered the sale of 4119 S. Ellis Ave., a 23-unit apartment building in the South Side’s Kenwood neighborhood, for approximately $2.7 million, or $117,391 per unit. The firm’s Jon Morgan, David Goss, Ted Stratman and Lucas Fryman represented both the private seller and buyer.
“We identified an out-of-state buyer that has a long-term vision for building a critical mass of apartment buildings in this area,” said Fryman. “Although the deal was in the works well before COVID-19, the buyer faced considerable headwinds as a result of the pandemic that affected the original financing terms. Ultimately, they stayed true to their investment strategy and were able to close the deal.”
Built in 1903, 4119 S. Ellis is a three-story brick building that includes four two-bedroom, 11 three-bedroom and eight four-bedroom units. The building was 95% occupied at the time of sale.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
Apartment buildings for sale
Check out the latest properties available on apartmentbuildings.com
685 Sherman St
Akron, OHChicago & Midwest + Apartment Buildings
Learn MoreListing Status: Available Listing Type: Call for offers Price: $1,250,000 No. of Units: 42 Year Built: 1971 Lot Size: 0.49586776859504 Acres Opportunity Zone: No Price per unit: $29,761 Value-Add Multifamily Portfolio | 71 Units
Urbana, ILChicago & Midwest + Apartment Buildings
Learn MoreListing Status: Available Listing Type: Auction Price: $1,000,000 No. of Units: 71 Opportunity Zone: No Price per unit: $14,084
