Connect CRE: Rogers Park Sales Demonstrate Neighborhood’s Value-Add Appeal
Chicago, IL – Interra Realty brokered a pair of multifamily transactions totaling $8.15 million in the North Side’s Rogers Park neighborhood. In the first transaction, Interra’s Joe Smazal represented both buyer and seller of 7320 N. Ridge Blvd., a 38-unit rental community that traded for $5.74 million.
“Rogers Park continues to attract investors who are drawn to its stock of well-maintained, stabilized properties, many with a value-add component,” said Smazal. “After aggressively marketing 7320 N. Ridge to a national network, we were able to secure an offer in less than a week for nearly list price.”
Interra Realty also brokered the $2.41-million sale of 1934-38 W. Estes Ave., a 16-unit rental community south of Pottawattamie Park. The price per unit was $150,938. The firm’s Craig Martin represented the seller, a local private investor, while Smazal represented the local private buyer. Interra secured multiple competitive offers and closed at near list price.
Read the full article: Connect CRE
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RE Journals – October 18, 2021: Interra Realty brokers pair of multifamily transactions totaling $8.15M in Rogers Park