CHICAGO, IL – Interra Realty brokered the $3.15 million sale of 6254 N. Whipple St. The 16-unit vintage apartment building, located in Chicago’s West Ridge neighborhood, traded for $196,875 per unit.

Interra Senior Managing Partner Brad Feldman represented the buyer, a Chicago-based private investor. Feldman also represented the seller, a local private investor. The building was fully occupied at the time of sale.

Constructed in 1931 and renovated in 2023, the building features 16 two-bedroom apartments. Property improvements include new plumbing and electric systems and complete overhauls of apartment interiors with quartz countertops, stainless steel appliances and in-unit laundry.

Feldman assisted the seller in their original $1.8 million acquisition of the property in 2023. At the time, the building had not changed hands in more than 50 years and needed significant upgrades. The seller’s investment equated to a nearly $85,000 increase in price per unit and increased rents.

Read the complete article at RE Journals.