CHICAGO, IL – Interra Realty, a Chicago-based commercial real estate investment services firm announced it brokered the $3.25 million sale of 1710 W. Lunt Ave., a newly renovated 12-unit multifamily building in Chicago’s Rogers Park neighborhood. The transaction equates to $270,833 per unit.

Interra Senior Managing Partner Brad Feldman represented the buyer, a local family real estate operator. Senior Managing Partner Joe Smazal and Director Mark Dykstra represented the seller, a local private developer. The property was 92% occupied at the time of the transaction.

“This sale demonstrates the depth of demand for stabilized, high-quality multifamily assets in Chicago neighborhoods where renters are willing to pay for renovated product,” said Feldman. “With construction costs remaining elevated, investors are placing a premium on turnkey properties that already deliver a strong resident experience and predictable income.”

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