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.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).