Interra Realty has arranged three separate multifamily property sales in Chicago’s southwest suburbs, underscoring active investor interest in this submarket. The brokerage handled trades in Chicago Ridge, Oak Lawn and Midlothian, with each transaction closing off market and involving confidential buyers and sellers.
The largest deal involved the sale of 9822 Nottingham Ave. in Chicago Ridge for $2.34 million. The property, built in 1971, totals 18 apartments across a mix of one-, two- and three-bedroom layouts. According to Interra Realty, the building was fully occupied at the time of sale, reflecting strong tenant demand for well-located suburban rental housing.
In Oak Lawn, Interra brokered the $1.73 million sale of 10821 S. Keating Ave. The 12-unit building was constructed in 1979 and is configured with one-bedroom and two-bedroom floor plans. Like the Chicago Ridge asset, 10821 S. Keating was fully leased when it traded, highlighting stable occupancy in the local multifamily segment.
The third transaction was a $1.05 million sale of a two-building portfolio in Midlothian. The portfolio consists of 14613 S. Keystone Ave. and 14639 S. Karlov Ave., which together contain 12 units with one- and two-bedroom layouts. Both buildings were also fully occupied at closing. The portfolio sale adds to the recent velocity of smaller-scale multifamily trades in the southwest suburban corridor.
Interra Realty Managing Director Michael Duckler represented both sides of the deal in all three transactions, acting for the confidential buyers and sellers. Each sale was completed off market, suggesting that some investors and owners in the area are opting for discreet execution rather than broad marketing processes.
Duckler noted that Chicago’s southwest suburbs are experiencing a noticeable increase in investor interest, citing strong fundamentals and perceived long-term upside in the area. With all three properties trading at full occupancy and consisting of relatively modest unit counts, the activity points to ongoing demand for stabilized, smaller apartment assets as part of local and regional multifamily investment strategies.
The transactions also come as industry participants prepare for the upcoming Connect Midwest Multifamily Trends Conference, where regional multifamily dynamics, including suburban investment opportunities, are expected to be a key focus.
