RE Journals: Interra Realty Brokers $5.2 Million Sale of Vintage Apartment Building in Chicago’s Buena Park Neighborhood
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:
Bisnow: This Week’s Chicago Deal Sheet
RE Business Online: Interra Realty Arranges $5.2M Sale of Apartment Building in Chicago