Interra Realty, a Chicago-based commercial real estate investment services firm, brokered seven multifamily sales totaling approximately $11.4 million. The transactions, which closed between December and January and range from $695,000 to $3.2 million, include properties on both the north and south sides of Chicago, as well as west suburban Cicero.
“Across the board, we’re seeing continued interest from multifamily investors, including some who are looking at properties they may not have considered in previous cycles due to their size or location,” said Jon Morgan, co-founder and managing principal of Interra Realty. “This willingness to do smaller, neighborhood-level deals is coming at the right time for owners of these properties, allowing them to cash out rather than undertake the renovations an older building might require.”
Read Full Article: ReJournals