Interra managing partner, Ted Stratman, and director, Jeremy Morton, represented the private seller and the undisclosed local buyer, which plans to renovate kitchens and baths as the units turn over.

“The buyer was seeking a stabilized, cash-flowing asset with an opportunity to add value, and 7526 S. Colfax fit the bill,” said Stratman. “The strong price reflects multifamily investors’ continued interest in Chicago’s South Side.”

Read article: RE Journals