CHICAGO, IL – Interra Realty has brokered the off-market sale of a 33-unit mixed-use property at 5704 S. Harper Ave. in the city’s Hyde Park neighborhood for $6.6 million. Interra Senior Managing Partner Brad Feldman represented both the buyer, a local private investor, and seller, a private family partnership.

The corner building includes 28 one-bedroom apartments and five commercial spaces, the latter of which are fully leased by a Subway restaurant, bike shop, convenience store, barbershop and real estate office. At the time of sale, the residential units were also fully occupied.

“There was a great deal of investor interest given the property’s prime location in Hyde Park near the University of Chicago, large concentration of students living there and historically high occupancy rates of both the residential and retail portions,” said Feldman. “While the building is in great condition, the buyer has the ability to modernize units to add overall value.”

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REBusiness Online: Interra Realty Negotiates $6.6M Sale of Apartment, Retail Property in Chicago’s Hyde Park