RE Journals: Interra Realty brokers $1.36 million sale of vintage multifamily portfolio in Chicago
CHICAGO, IL – Interra Realty, a Chicago-based commercial real estate investment services firm, brokered the $1.365 million sale of a two-building, 20-unit multifamily portfolio in Chicago’s West Garfield Park and Austin neighborhoods. The transaction equated to $68,250 per unit.
Located in Chicago’s West Garfield Park neighborhood, 4334-40 W. West End Ave. was built in 1914 and offers 12 two-bedroom units and one three-bedroom unit. Approximately half of the apartments have undergone cosmetic renovations including new flooring, kitchens and bathrooms. Each unit has its own furnace, and the property was outfitted with new hot water tanks. The property is served by the CTA’s Pulaski Green Line station and multiple CTA bus routes.
The second building, 5019 W. Maypole Ave. in the Austin neighborhood, includes four one-bedroom and three two-bedroom units. Built in 1927, the property has undergone recent renovations including a new porch. It is a half-mile from the Laramie Green Line station and near several CTA bus routes.
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