In The News – REJournals.com | Interra Realty Closes Two Multi-Family Properties in Logan Square for $3.8 M
Interra Realty has brokered the sale of two Logan Square properties in the same day.
With these sales, Brad Feldman, Managing Partner at Interra, has sold a total of 10 Logan Square multi-family properties in the last 18 months.
A 17-unit mixed-use property at 3718-24 W. Fullerton Ave., that recently had a significant gut rehab, sold for $2.59M. The new condo-quality units are fetching rents upwards of $1,300 for a one-bedroom/one-bath and as much as $1,800 for a three-bedroom/one-bath. The property received multiple cash offers and closed at 95% of list price with a local investor.
An eight-unit walk-up building at 2838-40 N. Albany Ave., with one-bedroom and two-bedroom units, sold for $1.2M. With some light rehab, the new owner plans to push up rents given how hot the Logan Square market has been in recent months. The property was under contract in two weeks and closed at 95 percent of list price.
See more at: RE Journals