CHICAGO, IL – Interra Realty, a Chicago-based commercial real estate investment services firm, brokered the sale of a 42-unit multifamily property in Chicago’s Uptown neighborhood. The building sold for $5.2 million, equating to $123,809 per unit.

Interra Senior Managing Partner Joe Smazal represented the private local seller. Smazal also represented the buyer, a local private investor. The building, constructed in 1929 and recently renovated, was fully occupied at the time of sale. As part of the transaction, the buyer assumed the existing loan on the asset, which had a below-market-rate and favorable fixed term remaining.

Read the full article at RE Journals.

See additional articles on this transaction:

Multifamily Biz: Interra Realty Brokers Sale of Vintage Apartment Building in Chicago’s Uptown Buena Park Neighborhood

Bisnow: This Week’s Chicago Deal Sheet

RE Business Online: Interra Realty Arranges $5.2M Sale of Apartment Building in Chicago