ConnectCRE: Synagogue Apartment Building in Uptown Chicago Sells
CHICAGO, IL – Interra Realty, a Chicago-based commercial real estate investment services firm, has brokered the sale of The Synagogue, a 40-unit multifamily property at 5029 N. Kenmore Ave. in the city’s Uptown neighborhood, for $8.175 million, or $204,375 per unit.
Constructed in 1922, the building is an adaptive reuse of a former temple that was reopened as rental apartments in 2019. Interra co-founder and Managing Principal Jon Morgan and Director Michael Duckler represented the seller, Chicago-based Cedar Street, and the buyer, a local private investor.
“The synagogue property has been a staple of the neighborhood for over a century, and the beautifully converted building offers residents not only luxury living but a unique slice of Chicago history,” said Morgan. Previously the home of Agudas Achim North Shore Congregation, the synagogue closed in 2008 and was put on the market by its board in 2012. Cedar Street purchased the property—originally designed by architecture firm Dubin & Eisenberg—in 2016 and subsequently converted it into apartments.
Read the complete article at ConnectCRE.
See additional articles on this transaction at:
RE Journals: Interra Realty Closes Sale of 40-unit Apartment Property in Chicago’s Uptown Neighborhood
RE Business Online: Interra Realty Arranges $8.2M Sale of Apartment Building in Chicago’s Uptown Neighborhood
Bisnow Chicago: This Week’s Chicago Deal Sheet