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.”

Read the full article: RE Journals

See additional articles on this deal below:

Chicago Business Journal: Mixed-use building on Chicago’s North Side sells for $2.7M

ConnectCRE: Mixed-Use Trades on Border of Edgewater and Rogers Park