Multifamily Biz: Interra Realty Brokers $27 Million Sale of Vesta Lofts in Chicago’s South Loop Neighborhood
“We exposed this property to our deep pool of qualified private and institutional buyers and procured a New York-based group that was attracted to both the stabilized mixed-use building and the development potential of the adjacent parking lot,” said Fryman. “This transaction is the largest multifamily sale in the South Loop since March 2019, demonstrating growing investor interest in the area around McCormick Place.”
Located at the northwest corner of 21st Street and Indiana Avenue, Vesta Lofts consists of 59 studio, one-, two- and three-bedroom units and one commercial space leased to Pizano’s Pizza & Pasta. The adjacent 19,373-square-foot parking lot presents an opportunity for future ground-up development.
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