Multifamily N Illinois

Interra Realty closes on Hyde Park multifamily property for $6.5M

  

Interra Realty brokered a 75-unit multifamily property at 5736 S. Stony Island Ave in Chicago’s Hyde Park neighborhood for $6.5 million.

The deal traded at 6.36 cap rate and Interra broker, Craig Martin, represented both the buyer and the seller. The purchaser is a privately-held national real estate investment firm and the seller is someone outside of Illinois.

The building has 43 studio apartments, 29 one-bedrooms and 3 two-bedroom units. The property borders the University of Chicago and is near public transportation.