MultifamilyBiz: Interra Realty Arranges $5.78 Million Sale of Luxury Apartment Building in Chicago’s Iconic Lincoln Park Neighborhood
Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it brokered the $5.78 million sale of 1513-17 W. Diversey Parkway, a 12-unit luxury apartment building in Chicago’s Lincoln Park neighborhood. The price per unit was $481,250, the highest in the submarket in four years and third-highest ever in the same area, according to CoStar data.
Director Jeremy Morton and Managing Partner Ted Stratman represented the seller, a private local real estate developer, using a virtual tour and marketing campaign that attracted multiple offers. The winning buyer was a private investor from California who purchased the property in a 1031 exchange.
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