Interra Realty recently facilitated the successful sale of a 16-unit apartment building in Chicago’s Ravenswood neighborhood for $4.2 million. The property, located at 5073 N. Wolcott Ave., was sold at full list price and was fully occupied at the time of sale.
The buyer, ICM Properties, is a local real estate investor represented by Interra Senior Managing Partner Joe Smazal. The seller, a private New York-based investor, was also represented by Smazal.
Built in 1927 on a corner lot, this vintage walk-up property features thirteen two-bedroom and three three-bedroom apartments. Its prime location near popular restaurants and retail options in Ravenswood as well as neighboring Andersonville and Lincoln Square make it an attractive investment opportunity.
With its proximity to public transportation including Metra stations and CTA lines as well as multiple bus routes, this boutique property offers convenient access to all that Chicago has to offer.
According to Smazal: “Closing the deal for full list price is indicative of strong sales activity for high-quality multifamily properties in desirable locations within Chicago.”
