Chicago & Midwest + North Side + Apartments | July 26, 2021

Rogers Park Apartments Trade After Drawing Multiple Bids

Interra Realty brokered the $5.025-million sale of 7363-83 N. Winchester Ave., a two-building, 40-unit rental community in the North Side’s Rogers Park neighborhood. The price per unit was $125,625.

Senior managing partner Joe Smazal represented the confidential seller and buyer, procuring multiple competitive offers near the full list price.

“Rogers Park continues to attract investors because of its ample supply of stabilized apartment buildings that, in many cases, can be updated to achieve higher rents,” said Smazal. “This property is very well maintained and has enjoyed strong historical occupancy by filling a need for workforce housing on Chicago’s North Side. When we marketed it to our network of investors, we received immediate interest.”

Built in 1953, 7363-83 N. Winchester includes all one-bedroom units, which were approximately 95% occupied at the time of sale. In addition to the two residential structures, the property includes 27 surface parking spaces.

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About Paul Bubny

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).

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