Yield Pro: Interra Realty arranges $5.46 million sale of two-building apartment portfolio in Chicago’s South Shore neighborhood
CHICAGO, IL – Interra Managing Partner Ted Stratman and Director Jeremy Morton represented both the seller, Iron Bridge Lending, and the undisclosed buyer, a local multifamily owner and operator. Within two weeks of marketing the portfolio, the Interra team procured multiple list-price offers and closed the deal in 45 days.
“Recently rehabbed apartment buildings are in extremely high demand among renters and investors alike,” said Stratman. “Both of these buildings were gut-rehabbed in the past two years, creating turnkey assets for the buyer and new affordable housing options for the neighborhood.”
Reflecting its appeal, the portfolio garnered one of the highest per-unit prices in this pocket of South Shore in recent years, according to CoStar.
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