Connect CRE: South Shore Portfolio Fetches High Per-Unit Price

Jeremy Morton
Ted Stratman
Jeremy Morton
Multifamily
News
Ted Stratman
Transactions

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.

Read article: Connect CRE