Multifamily N Illinois
5001 S. Drexel Boulevard in Kenwood

Interra Realty brokers seven Chicago-area apartment sales

Interra Realty, a Chicago-based commercial real estate investment services firm, brokered seven multifamily sales totaling approximately $11.4 million. The transactions, which closed between December and January and range from $695,000 to $3.2 million, include properties on both the north and south sides of Chicago, as well as west suburban Cicero.

Multifamily Midwest
NMHC: Developers already planning the apartments of the future

NMHC: Developers already planning the apartments of the future

Officials with the National Multifamily Housing Council know that technology is changing everything. The company points at success stories such as Uber. It’s the largest taxi service on the globe, but the company doesn’t own a single vehicle. It looks, too, at Airbnb, a major player in the hospitality industry that doesn’t own a single property.

Multifamily N Illinois
Terrace 459 at Parkside of Old Town

Federal tax overhaul creates barriers to investment in low income housing

When Congress passed a sweeping rewrite of the federal tax code last December, they left in place the low-income housing tax credit (LIHTC). However, lowering the corporate tax rate from 35 percent to 21 percent might decrease overall investment in affordable housing, according to Ginsberg Jacobs LLC, a Chicago-based law firm that specializes in corporate, finance, litigation, real estate, trusts/estates, tax and tax credits.

Multifamily N Illinois
Wanda Vista Tower up for sale

Wanda Vista Tower up for sale

The 98-story Wanda Vista Tower, currently under construction in Chicago, is up for sale. According to a report by the Chicago Tribune, Dalian Wanda Group, the Chinese firm that has been developing the project in partnership with Chicago-based Magellan Development, has put the combination residential/hotel tower on the market, along with another development in Beverly Hills, CA.