RE Journals: Interra Realty brokers off-market sale of apartment building in Chicago’s Lakeview neighborhood
Interra Realty has brokered the off-market sale of 1478-80 W. Byron Street, a 16-unit apartment building in Chicago’s Lakeview neighborhood. The deal closed for $4.05 million, or $253,125 per unit.
Joe Smazal, senior managing partner at Interra, represented both the private seller and the buyer, a long-term-hold owner who has an established portfolio in the submarket and purchased the Byron Street property as part of a 1031 exchange. The transaction underscores Interra Realty has sold more multifamily properties in Lakeview priced over $1 million than any other firm in the past three years, according to CoStar data.
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