Interra Realty, a Chicago-based commercial real estate investment services firm, recently brokered the sale of a 10-unit mixed-use apartment building in Chicago’s Lakeview neighborhood near Wrigley Field for $5.45 million. The transaction closed at $545,000 per unit. Interra Senior Managing Partner Joe Smazal represented both the buyer – Chicago-based HP Ventures Group – and local private developer in the sale.
Smazal commented on this deal: “Despite headlines reporting low transaction volume, we continue to see strong interest for multifamily properties especially in coveted neighborhoods like Wrigleyville.” Located at 3301 N Sheffield Ave., this boutique luxury building was constructed in 2014 and was fully occupied at time of sale; it features nine three bedroom units and one commercial space currently leased to Jennivee’s Bakery.
This is not HP Ventures’ first purchase with Interra Realty as their broker; they acquired Station440 (a 48 unit multifamily property) located Highwood Illinois back May 2021 for $16.9 million dollars .
