Yield Pro: Interra Realty brokers pair of multifamily sales totaling $9 million in Chicago’s Rogers Park
Interra Senior Managing Partner Brad Feldman represented both the seller, Marc Realty, as well as the buyers. Becovic Residential LLC, which owns and operates over 1,700 apartment units in Chicago, purchased the Damen Avenue property, while the Arthur Avenue building was acquired by a local investment group. Feldman was assisted by Interra Associate Conor McInerney in the Damen Avenue transaction.
“The seller achieved very strong prices for these properties, demonstrating the appeal of the Rogers Park submarket,” said Feldman. “Marc Realty acquired both buildings nearly a decade ago, after the prior owner lost them in a failed condominium conversion, and was able to reap considerable upside from the original investment. For the buyers, it was an opportunity to expand their holdings in a strong North Side neighborhood that continues to experience rent growth.”
Read article: Yield Pro