RE Journals: Interra Realty Brokers $2.66 Million Sale of Three-Building Multifamily Complex in South Suburban Chicago
DOLTON, IL – Interra Realty has brokered the $2.66 million off-market sale of a three-building, 41-unit apartment complex at 14251, 14261 and 14315 Pennsylvania Road in Dolton, about 15 miles from Chicago’s Loop. At $65,000 per unit, it is one of the largest multifamily transactions in Dolton in the past decade by price and number of units. Interra Director Michael Duckler represented the confidential seller, who had owned the buildings for three years and updated all units. Duckler leveraged Interra’s network of investors to identify the private buyer, whom he also represented, and who plans to raise rents to market rate. Average rents in Dolton are up 28% over last year, according to Zumper.
Read the full article: RE Journals