Interra Realty facilitated the sale of two value-add multifamily buildings in the northwest Chicago area totaling $4.65 million.
The two-building, 16-unit 1860-1900 N. Parkside Drive in Park Ridge, Ill., sold for $2.75 million, and the 12-unit 8544-48 W. Gregory St. in Chicago’s O’Hare submarket transacted for $1.9 million.
Interra Managing Partner Patrick Kennelly, Managing Partner Paul Waterloo and Director Nathan Zito represented both the confidential buyer and seller of 1860-1900 N. Parkside. Kennelly, Waterloo and Zito also represented the undisclosed partnership seller of 8544-48 W. Gregory, with Oleg Komarnytskyy of KOMAR Real Estate representing the private buyer. Both properties were fully occupied at the time of sale.
Constructed in 1966, 1860-1900 N. Parkside includes seven one-bedroom and nine two-bedroom apartments across two buildings, as well as 10 garage parking and 23 surface parking spots on-site. The well-maintained buildings provided a value-add opportunity through unit upgrades. The transaction was the first multifamily sale in Park Ridge to exceed $1 million over the past two years, per CoStar data.
8544-48 W. Gregory is a courtyard building constructed in 1972 and featuring one studio, four one-bedroom, six two-bedroom and one three-bedroom layouts. This is the first time the property has traded hands since 1988, and the new buyer plans to renovate apartments as tenants turn over.
The sale of 1860-1900 N. Parkside is an example of growing multifamily investment sales in Chicago’s suburbs. Interra’s Q3 2025 Suburban Chicago Multifamily Sales report shows a 40% year-over-year increase in the total dollar volume of multifamily transactions through the third quarter of 2025 and a 34% increase in the number of deals closed.
With the sale of 8544-48 W. Gregory, Interra has closed seven multifamily deals in the O’Hare submarket over the past two years. Other transactions include 8657 W. Berwyn Ave., 8622 W. Berwyn Ave., 8531-8535 W. Bryn Mawr Ave., 8524-28 W. Gregory St., 8532-36 W. Gregory St. and 5240 N. Oakview Ave.
1860-1900 N. Parkside is close to dining and shopping along Dempster Street and within walking distance of Advocate Lutheran General Hospital. The area is served by Metra’s Dee Road station on the Union Pacific Northwest Line and multiple bus routes.
8544-48 W. Gregory is close to multiple dining, shopping and entertainment options, including Rosemont Theatre, Fashion Outlets of Chicago and the Donald E. Stephens Convention Center. The area is served by the CTA’s Cumberland Blue Line station and multiple bus routes.
