Interra Realty recently facilitated the sale of two multifamily properties on Chicago’s South Side for a combined price of $1.65 million. The transactions included a 19-unit apartment building located at 7757-59 S. Winchester Avenue and a 12-unit building at 506-14 E. 70th Street.
The Winchester Avenue property was sold for $955,000 to Toronto-based buyer, Winchester Ave Suites, LP with Interra broker Max Grossman representing both parties in the deal. The property features nineteen one-bedroom units and the new owner plans to continue renovations on nine currently vacant units.
Meanwhile, Interra Director Lucas Fryman represented an undisclosed seller in the sale of the East 70th Street property for $700,000 as well as an undisclosed buyer who plans to strategically renovate units during turnover. This asset includes twelve one-bedroom units.
“These transactions highlight strong demand for vintage apartment buildings in Chicago and cater to various investment strategies,” said Fryman.
