In The News | Interra Realty brokers $1.5M residential building on Chicago’s North Side

Craig Martin
Multi-Family
News

Chicago-based commercial real estate investment services firm Interra Realty has brokered the $1.52 million sale of 4063 N. Sheridan Road, a vintage condominium building in Chicago’s Buena Park neighborhood. The buyer, Chicago-based Aljack Investments, plans to completely restore the fire-damaged building and modernize the property’s seven units.

Craig Martin, a director at Interra, represented the condominiums’ sellers and also procured the buyer in the transaction. The sale price equates to an average of $217,857 per unit. The investment represents a value-add opportunity as the building suffered fire damage in November 2015 and requires repairs, according to Martin, who added that the buyer may rent the units as apartments or sell them off individually as condos.

 

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