RE Journals: Interra Realty brokers $7.5M sale of three-building multifamily portfolio on Chicago’s South Side
“Part of the city’s INVEST South/West initiative, South Shore has become increasingly attractive to investors, in part because it offers proximity to the lakefront, Jackson Park – the future home of the Obama Presidential Center—and various cultural institutions, plus it offers easy access to downtown Chicago,” said Fryman. “Woodlawn shares similar locational attributes and also has existing rental stock with strong upside potential.
“As COVID-19 persists, we’re helping buyers identify assets with a mix of market-rate and subsidized units, some of which are backed by government funds—which was the case for all three buildings in the portfolio—as rental income derived from the subsidies is viewed as more stable during the pandemic,” Fryman said.
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