Elmwood Park, IL – Interra Realty, a Chicago-based commercial real estate investment services firm, announced it brokered the $12.18 million sale of Harlem Towers, a two-tower, 83-unit multifamily property in Elmwood Park, Illinois.

Interra Managing Partner Patrick Kennelly, Managing Partner Paul Waterloo and Director Nathan Zito represented buyer, Pabcor Management, which is led by principals Ted Arvanitis, Gus Pablecas and Matt Pablecas. Kennelly, Waterloo and Zito also represented the seller, Neder Capital Services. Yaryna Makarchuk served as the seller’s representative throughout the transaction.

“Suburban workforce housing is one of the most resilient asset classes in the Chicago market,” said Kennelly. “Harlem Towers is a strong example of the type of property investors pursue for long-term stability and predictable demand.”

Read the complete story at YieldPro.

See additional coverage of this transaction at: Chicago Business Journal and RE Journals.