RE Journals: Interra Realty Brokers Sale of Mixed-Use Property Near Chicago’s Edgewater and Rogers Park
CHICAGO, IL: Interra Realty brokered the $2.65 million sale of 6403 N. Wayne Ave., a 16-unit mixed-use building with two first-floor commercial spaces along the border of Chicago’s Edgewater and Rogers Park neighborhoods. The sale price equates to $165,625 per unit.
Interra Senior Managing Partner Brad Feldman represented both the seller, a local private investor, and buyer, a local real estate partnership that plans to make minor cosmetic improvements to the building to bring rents to market.
“Even in a rising interest rate environment, multifamily investors remain eager to acquire well-located assets with upside potential,” said Feldman. “We see this demand reflected in the high number of tours and written offers received – in this case, nearly a half-dozen.”
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See additional articles on this deal below:
Chicago Business Journal: Mixed-use building on Chicago’s North Side sells for $2.7M