Interra Realty recently facilitated the sale of two multifamily properties in Chicago. The first property, a mixed-use apartment building with 16 units located at 6405 N. Wayne Ave. in Rogers Park, was sold for $3.45 million to a private investor based in Chicago by Interra Senior Managing Partner Brad Feldman who represented both the buyer and seller.
The second property, a five-unit rental community at 1933 S. May St., situated in Pilsen neighborhood of Chicago, was sold for $1.26 million to an undisclosed buyer by Feldman and Interra Managing Director Jeremy Morton who represented both parties.
According to Feldman, the sale of the Rogers Park property allowed the seller to achieve higher rents after renovating units while also offering potential for future rent growth due its proximity to Loyola University which attracted buyers like their client from last year’s acquisition deal as well as others interested in investing into this area.
On top of that,the new construction aspect added value to Pilsen’s property condition along with operational upside making it an attractive investment opportunity overall.
