Interra Realty recently facilitated the sale of a multifamily property located at 452 W. Oakdale Avenue in Chicago’s Lakeview East neighborhood for $11.2 million, with each unit selling for an average of $233,646.
The buyer, Beal Properties, is a Chicago-based private investment firm owned by Bill Silverstein and was represented by Interra Senior Managing Partner Joe Smazal. The seller was a local investment group led by Cagan Management.
According to Smazal, the North Side of Chicago has limited supply when it comes to midsize apartment properties which makes this deal even more valuable. The building features 16 studios and 32 one-bedroom units that were fully occupied at the time of sale.
Located in close proximity to various dining options, shopping centers and entertainment venues in Lakeview East as well as popular attractions such as Lincoln Park Zoo and Diversey Harbor,North Avenue Beach,the property offers convenient access to public transportation through CTA’s Wellington Brown Line station and multiple bus routes.
