Bisnow: This Week’s Chicago Deal Sheet – 500 Des Plaines Ave.
An undisclosed investor bought 500 Des Plaines Ave., a 39-unit apartment building in west suburban Forest Park, for $3.15M. Interra Realty’s Joe Smazal marketed the property on behalf of the private seller, while Pat Kennelly and Paul Waterloo represented the buyer, which plans to renovate the kitchens and baths to raise rents to market level. Built in 1931, the building last sold for $2.4M in 2015, a transaction also brokered by Interra.
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