Connect CRE: South Shore Portfolio Fetches High Per-Unit Price
CHICAGO, IL – Interra Realty closed the $5.46-million sale of two recently rehabbed rental properties in the South Side’s South Shore neighborhood: 7646 S. Essex Ave., a 30-unit apartment building, and 7800 S. Phillips Ave., a 33-unit community. Including both assets, the price per unit was $86,667.
Managing partner Ted Stratman and director Jeremy Morton represented both the seller, Iron Bridge Lending, and the undisclosed buyer, a local multifamily owner and operator. The Interra team procured multiple list-price offers and closed the deal in 45 days.
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