Two-Property Apartment Portfolio Finds Buyer in Logan Square
Interra Realty negotiated the sale of a two-building multifamily portfolio in Chicago’s Logan Square neighborhood for $2.875 million, or $205,357 per unit. The portfolio includes 3856 W. Diversey Ave. and 2544 N. Harding Ave., totaling 15 units.
Senior managing partner Brad Feldman and director Jeremy Morton represented the confidential seller, who had extensively renovated the buildings, including updates to units. They also procured the private, out-of-state buyer, who intends to bring rents in line with the market as units turn over.
“We continue to see high demand for well-priced, well-located assets in the Chicago multifamily market,” said Feldman. “These newly renovated units are near the heart of Logan Square, an area that continues to see rising rents and property values. After an intensive two-month marketing campaign, we led 15 tours and secured four written offers before selling for near list.”
- ◦Sale/Acquisition