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.”
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).