Interra Realty recently facilitated the sale of a multifamily rental portfolio in Oak Lawn, Illinois. The three-building portfolio, consisting of 24 units, sold for $3.15 million at a record-breaking price per unit of $131,250.
The seller and buyer were both private investors represented by Interra Director Michael Duckler. The buildings are located at 10310-10326 Mayfield Ave. and 10310 Mansfield Ave., each containing eight apartments. The unit mix includes two one-bedroom units, twenty two-bedroom units, one three-bedroom unit and one four-bedroom unit with an impressive occupancy rate of 96%.
According to Duckler: “Due to limited availability in the housing market for purchase properties have seen an increase in demand from renters which has sparked interest from investors looking into stable suburban markets like Oak Lawn.” He also noted that this particular portfolio offered rare scale within the area with well-maintained units throughout ownership.
This successful transaction highlights Interra Realty’s expertise in navigating complex real estate deals while providing exceptional service to their clients.
