Interra Realty brokered the sale of a three-building, 24-unit multifamily rental portfolio in Oak Lawn, Illinois, for $3.15 million. Equating to $131,250 per unit, the transaction marks one of the highest prices paid per unit in the near southwest Chicago suburb over the last decade.

Interra Director Michael Duckler represented the portfolio’s seller, a private investor. Located at 10310-10326 Mayfield Ave. and 10310 Mansfield Ave., the buildings each house eight apartments. The portfolio’s unit mix consists of 20 two-bedroom dwellings, two one-bedroom, one three-bedroom and one four-bedroom. At the time of sale, the buildings were 96% occupied.

“With limited for-sale housing inventory, there has been an increase in renter demand and, consequently, investor interest in rental properties, especially in stable suburban markets like Oak Lawn,” said Duckler. “This portfolio offered rare scale for the area, with units that were well maintained throughout the course of ownership.”