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