Interra Realty was exclusively engaged to market for sale 4520 S. Vincennes. The subject property is a 18 unit corner walk up building located in Chicago’s historic Bronzeville neighborhood. The building contains a combination of two, three and four bedroom apartments and was 100% occupied at time of sale. This was the first sale of the building in approximately 30 years.
Originally redeveloped using low income housing tax credits, the building was in its extended use affordability period at time of sale. The buyer was attracted to the building and neighborhood due to the surrounding developments set to take in place over the coming years in addition to the buildings vintage charm. This was another example of Interra adding value through demonstrated expertise of transactions with affordability requirements requiring regulatory approval to be sold.