CHICAGO, IL: Interra Realty brokered two multifamily property sales on Chicago’s South Side with a cumulative price of  $1.65 million. The deals include a 19-unit apartment building at 7757-59 S. Winchester Avenue and a 12-unit building at 506-14 E. 70th Street.

Lucas Fryman represented Circa Chicago, LLC in the $955,000 sale of the Winchester Avenue property. Fryman also represented the buyer, Toronto-based Winchester Ave Suites, LP. The Winchester Avenue asset features 19 one-bedroom units, and the buyer plans to continue improvements and modernization of all nine vacant units.

Interra Director Max Grossman represented the confidential seller in the $700,000 disposition of the 70th Street property, as well as the confidential buyer. The 70th Street asset includes 12 one-bedroom units, and the buyer plans to strategically renovate units during turnover.

“These deals demonstrate a continued appetite for vintage apartment buildings in Chicago, serving an array of strategies,” said Interra Managing Partner Lucas Fryman.

Read the complete article at ConnectCRE.

See additional articles on this transaction:

YieldPro: Interra Realty Brokers Pair of Apartment Transactions on Chicago’s South Side

REJournals: Interra Realty Brokers Pair of Apartment Transactions on Chicago’s South Side