In The News – RE Journals | Interra Realty closes $3.2 million for multi-family properties in Hyde Park, Rogers Park
Interra Realty has announced that the firm’s managing partner, Brad Feldman, has brokered the sale of two multi-family properties in Chicago for a total of $3,225,000. Feldman represented both the buyers and the sellers for the Hyde Park and Rogers Park properties.
A jumbo six-flat at 5232 S. Hyde Park sold for $1,075,000.
“Hyde Park continues to be a hot bed for local real estate activity. With the resurgence of new development and lack of add-value opportunities, this sale presented a local investor with an opportunity to do a full gut rehab,” Feldman said.
A 14-unit condo-quality walk-up building at 6922-24 N. Greenview in Rogers Park sold for $2,150,000. The building has two- and four-bedroom units and was originally rehabbed to be sold as condos. The new owners assumed existing debt on the building and are adding to their growing portfolio in Rogers Park neighborhood.
“Investors are finding opportunities in Rogers Park where rents are more affordable for renters, yet return higher yields for owners. This is creating a strong demand for inventory in this sub-market,” Feldman said.
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