CONNECTCRE: Lakeview Sale Sets High Price Point for Non-Deconversion Deals

Brad Feldman
Paul Waterloo
Brad Feldman
Deal Stories
Paul Waterloo

CHICAGO, IL – Interra Realty brokered the $14.8-million sale of 2827-47 N. Clybourn Ave., a 36-unit building in Chicago’s Lakeview neighborhood that includes six commercial spaces on the ground floor and 30 luxury apartments. The price per unit was $411,111, reportedly making this the largest non-deconversion multifamily sale in Lakeview in the past year. 

Senior managing partner Brad Feldman represented the buyer, a local private investor, who plans to rent out the vacant retail space and increase rents. The seller was 2829 N Clybourn LLC. 

“Lakeview is perennially popular because of its diverse housing stock, abundant retail and restaurant offerings, and other amenities including those along the North Branch of the Chicago River,” said Feldman. “In addition to a great location, 2827-47 N. Clybourn offers the modern floor plans and finishes today’s renters want, as reflected by the property’s strong performance since opening.” 

Read the complete article at ConnectCRE.

See Additional Articles on This Transaction:

Multifamily Housing News: Interra Brokers Chicago Mixed-Use Sale

Multifamily Housing & Affordable Business: Interra Realty Brokers $12.7 Million Sale of 30-Unit Property in Chicago

RE Journals: Interra Realty brokers $12.69 million sale of mixed-use property in Chicago’s West Lakeview neighborhood

REBusiness Online: Interra Realty Brokers $12.7M Sale of Apartment Building in Chicago

YieldPro: Interra Realty Brokers $12.69M Sale of Mixed-Use Property on Clybourn Avenue in Chicago’s West Lakeview Neighborhood