Interra Realty’s Senior Managing Partner Brad Feldman represented both the buyer and the seller, Marc Realty, in a $2.8 million sale of a community in Rogers Park. The property is located at 2035 W. Arthur Ave and was last renovated in 2012. At the time of sale, all 19 units were occupied.
The capitalization rate of 6.9 percent delivered a higher first-year return than many assets in more centrally located submarkets. Feldman pointed out that interest in Rogers Park properties has been on the rise, due to the affordability and size of the housing stock, especially of the value-add segment.
Read article: Multi-Housing News