MultifamilyBiz: Interra Realty Brokers $1.48 Million Off-Market Sale of Multifamily Building in Chicago’s Popular South Shore Neighborhood
Interra Managing Partner Ted Stratman and Director Jeremy Morton represented the private seller and the undisclosed local buyer, which plans to renovate kitchens and baths as the units turn over.
“The buyer was seeking a stabilized, cash-flowing asset with an opportunity to add value, and 7526 S. Colfax fit the bill,” said Stratman. “The strong price reflects multifamily investors’ continued interest in Chicago’s South Side.
7526 S. Colfax was built in 1928 and has 17 two-bedroom and seven three-bedroom units. The building was 92% occupied at the time of sale.
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