South Shore Portfolio Trades to Two Separate Buyers
Interra Realty brokered the $4.94-million sale of a trio of multifamily buildings in Chicago’s South Shore neighborhood.The properties, which were purchased by two parties, included:
• 7040 S. Merrill Ave., a 42-unit rental community that sold for $2,315,000.
• 7337 S. Ridgeland Ave., a 25-unit building that traded for $1,490,000.
• 7801 S. Bennett Ave., a 16-unit property that sold for $1,135,000.
Interra managing partners Ted Stratman and Lucas Fryman, managing principals David Goss and Jon Morgan, associate Sam Gutierrez and director Jeremy Morton represented the private seller. Interra marketed the properties to a national network and ultimately split up the portfolio to maximize proceeds for the seller
“The transactions represented strong pricing for value-add deals in South Shore, which continues to attract interest for its prime location near the lakefront, major institutions and cultural attractions, and Jackson Park, the future home of the Obama Presidential Center,” said Stratman.