Bisnow: This Week’s Chicago Deal Sheet – Greenleaf, Arthur, Damen

Brad Feldman
Craig Martin
Conor McInerney
Lucas Fryman
Brad Feldman
Conor McInerney
Craig Martin
Lucas Fryman
Multifamily
News
Transactions

Interra Realty’s Craig Martin and Lucas Fryman brokered the deconversion sale of 1638-44 West Greenleaf Ave., a 40-unit multifamily building in Chicago’s Rogers Park neighborhood, for $6.5M, or about $162K per unit. The duo represented the buyers, a local investment group that purchased the asset through a 1031 exchange. They also represented the sellers, including a private equity group that owned 36 of the building’s units. Interra Realty has brokered more than a dozen deconversions since 2016, collectively valued at more than $100M.

Interra’s Brad Feldman brokered the off-market sales of two multifamily properties in Chicago’s Rogers Park neighborhood for a total of $9M. The 43-unit rental community at 7320 North Damen Ave., built in 1928 and last renovated in 2012, sold for $6.2M. The second property, a 20-unit apartment building at 2034 West Arthur Ave., traded for $2.8M. Built in 1930 and updated in 2012, it includes a mix of one- and two-bedroom apartments that were fully occupied at closing. Feldman represented both the seller, Marc Realty, as well as the buyer, Becovic Residential.

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