Yield Pro: Interra Realty brokers $2.66 million sale of multifamily property on Chicago’s West Side
Chicago, IL – Interra Realty a Chicago-based commercial real estate investment services firm, announced it brokered the sale of a 35-unit multifamily property in Chicago’s Austin neighborhood for $2.66 million. The property, 5550 W. North Ave., traded for approximately $76,000 per unit.
Interra Managing Partners Lucas Fryman and Ted Stratman, along with Associate Sam Gutierrez, represented the seller, New York-based real estate investment group Raskin Risers. Fryman, Stratman and Gutierrez also represented the buyer, a local real estate investor and manager.
“We represented Raskin Risers when the firm first acquired 5550 W. North Ave. in 2018, so this is now the second time Interra has brokered a deal for this building,” said Fryman. “The multiple sales of this property in just a relatively short span are representative of property appreciation and continued development in the neighborhood.”
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See addition articles on this transaction below:
Chicago Business Journal: Chicago Apartment Building Sells for Second Time in 4 Years