Interra Realty recently facilitated the sale of a mixed-use property located at 2200 N. Clark St. in Chicago’s Lincoln Park neighborhood for $11.25 million. The building, which consists of 28 apartments and seven retail spaces, was sold for an average price of $321,428 per unit.
The seller, a local real estate investment firm that utilizes institutional capital, was represented by Interra Senior Managing Partner Joe Smazal along with Senior Managing Partner Brad Feldman and Managing Partner Craig Martin. The buyer was procured by Beal Properties , a private office based in Chicago owned by Bill Silverstein . At the time of sale, the property had full occupancy.
According to Smazal: “The high level of interest from both local and out-of-state investors demonstrates the strong demand we have seen throughout 2024 and indicates positive prospects for 2025.” The ground floor retail space spans over 10,000 square feet across seven units that are fully leased to various tenants including an art gallery and Michelin-starred restaurant Esmé.
This transaction marks another successful deal completed by Interra Realty as they continue to provide top-notch brokerage services in commercial real estate transactions.
