Commitment to Kenwood
4400 S. Drexel Boulevard is 46 unit apartment building along historic Drexel Boulevard in Chicago's Kenwood neighborhood. The seller, who owned the property for 13 years, exclusively hired Ted Stratman and Lucas Fryman from Interra to represent them in the sale of the asset.
Marketing efforts yielded 15+ property tours and Interra was able to create a competitive bidding environment. A buyer was selected prior to COVID-19 and both parties were willing to navigate through the onset of the pandemic, reflecting their commitment to closing the deal at the original terms - full list price and no finance contingency. The buyer plans to renovate the building which includes combining units and building out additional units on the ground floor.