Multifamily N Illinois

Interra Realty closes on $7.3M multi-family buildings in Chicago

HydeParkInterra

Interra Realty brokered the sale of a four-property portfolio with a total of 24 units in Chicago's Hyde Park neighborhood.

Interra Realty brokered the sale of a four-property portfolio with a total of 24 units in Chicago's Hyde Park neighborhood.

Managing partner Joe Smazal represented the seller and buyer in this transaction which closed at $7,315,000, about $305,000 per unit.

The properties are located at 5409 to 5411 S. Blackstone Ave., 5533 to 5535 S. Blackstone Ave., 5623-5625 S. Dorchester Ave. and 5427 to 5429 S. Greenwood Ave.

The buildings feature an attractive mix comprised of four-bedroom and two-bathroom apartments. Recently, 25 percent of the units were fully renovated with condo quality finished. The building envelopes were well maintained and experienced a number of capital improvements in recent years.