CHICAGO, IL – Interra Realty, a Chicago-based commercial real estate investment services firm, announced it brokered the sale of a mixed-use building at 5300 S. Blackstone Avenue featuring 24 apartments as well as two ground-floor commercial spaces.

Interra Senior Managing Partner Joe Smazal and Director Mark Dykstra brokered the deal on behalf of the buyer, Estia Properties, a Chicago-based real estate investment and management company. Smazal and Dykstra also represented the confidential seller, an East Coast-based investment group.

“Multifamily properties in vibrant areas like Hyde Park are in high demand right now, with particular investor focus on midsize buildings like this one,” said Smazal. “Estia Properties was attracted by the prospect of creating value with this asset through operational efficiencies.”

Originally constructed in 1907, the Blackstone Avenue property includes one one-bedroom, 11 two-bedroom and 12 three-bedroom layouts. All apartments feature renovated kitchens and bathrooms, in-unit laundry and individual HVAC. The property also features a 16-car parking lot.

Read the complete article at YieldPro.