Private Investor Snaps Up New Construction in Wicker Park, Ravenswood
Interra Realty brokered a pair of multifamily transactions totaling $9.1 million in Chicago’s Wicker Park and Ravenswood neighborhoods.
The recently constructed properties, both purchased by a local private investor, included:
• 1220 N. Bosworth Ave., a 10-unit rental community in Wicker Park that sold for $4.9 million. The price per unit of $490,000 was among the highest ever in the submarket, according to CoStar data;
• 4540 N. Ravenswood Ave. (pictured), a 10-unit apartment building in Ravenswood that sold for $4.2 million, or $420,000 per unit, also among the highest ever in its submarket, per CoStar.
Interra managing partner Brad Feldman represented the buyer of both properties and the seller of 1220 N. Bosworth.
“These properties are in very high-demand areas near transportation and offer the appeal of new construction without the high costs and delays many developers have encountered coming out of the pandemic,” said Feldman.
- ◦Sale/Acquisition