CHICAGO, IL – Interra Realty, a Chicago-based commercial real estate investment services firm,  announced it brokered two separate vintage multifamily property sales in Chicago: an eight-unit apartment building at 10-12 W. Chestnut Street in Chicago’s Gold Coast for $3.425 million, and a two-building, 12-unit mixed-use portfolio at 1754-1756 W. 21st Place in the city’s Pilsen neighborhood for $3.1 million.

Interra Managing Director Jeremy Morton represented the confidential buyer of the Gold Coast building, with Steven Rapoport of Chicago Real Estate Resources, Inc., representing the unnamed seller. Morton and Interra Managing Director Harrison Pinkus brokered the Pilsen deal on behalf of the private seller, with Denise Reyes of HomeSmart Connect LLC representing the confidential buyer. All buildings were fully occupied at the time of sale.

“Chicago’s stock of older multifamily properties has held investor attention for years, and these sales demonstrate a continuation of that trend,” said Morton. “In neighborhoods all across the city, well-maintained vintage assets have a track record for long-term performance through multiple cycles.”

Read the complete article at Yield Pro.