CHICAGO, IL: Interra Realty has brokered the $8.15 million sale of a 69-unit mixed-use building in Chicago’s Rogers Park neighborhood. The transaction equated to $118,116 per unit.
Interra Associate Kevin Rahmanim represented the buyer, a local private investor. The local private seller was self-represented in the off-market deal. This is the first time the courtyard building, which was constructed in 1931, has transacted in over 50 years.
“Interra has seen incredible deal velocity in the past two months. While middle-market multifamily has performed well this year compared to many other asset types, investor demand only appears to be heating up for these properties,” said Rahmanim.
Located at 7219 N. Sheridan Road, the property includes three studios, 37 one-bedroom units and 21 two-bedroom units, as well as eight ground-floor retail spaces. The property recently received upgraded building systems. The property is within walking distance of dining, shopping and entertainment options.
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REBusiness Online: Interra Realty Brokers $8.1M Sale of Chicago Apartment Building