Interra Realty recently facilitated the successful sale of a 10-unit apartment building in Chicago’s sought-after Wicker Park neighborhood for $4.625 million, equating to an impressive price of $462,500 per unit. The seller was represented by Interra’s Senior Managing Partner Brad Feldman, who had also brokered their original acquisition in 2021.
Feldman expertly sourced and represented the buyer – a reputable investment group based in Chicago that assumed the existing loan as part of the transaction. Constructed just last year and fully occupied at time of sale, this boutique property at 1220 N. Bosworth Avenue boasts four one-bedroom units, four two-bedroom units and two four-bedroom duplexes – all equipped with desirable amenities such as in-unit laundry facilities and balconies.
According to Feldman: “The inclusion of loan assumption proved to be a significant factor in sweetening this deal amidst current interest rate market conditions.” He added that their strategic marketing campaign generated considerable interest with over twelve tours conducted within a short period resulting multiple offers being made on this prime asset.
