Interra Realty, a Chicago-based real estate brokerage firm, recently facilitated the sale of a 19-unit multifamily building in Oak Park for $1.4 million. The property, located at 722-726 N. Austin Boulevard., was sold by a private seller and represented by Interra’s Managing Partner Patrick Kennelly and Director Paul Waterloo.
According to Waterloo, there is still high demand from multifamily buyers looking for properties with potential in desirable locations like Oak Park. The four-story building consists of 15 one-bedroom and four two-bedroom apartments and also includes four garage parking spaces.
The transaction showcases the continued interest in suburban assets among investors as well as the potential for increased rents through renovations and improvements. This particular property has additional upside due to plans from the new owner to fully renovate six units that were impacted by a recent fire.
For more information on this sale or other upcoming events hosted by Connect CRE Midwest please visit our website.
