Interra Realty recently announced three new multifamily transactions in Chicago. The first is the sale of 7953 S. Dobson in Chicago’s Avalon Park neighborhood. The property is a 26-unit walkup apartment building. The property was sold on May 9 for $50,000 and consists of nine studios, 14 one-bedroom apartments and three two-bedroom apartments. The buyer is a local private equity real estate fund that will complete a full gut rehab after purchasing the property as part of a multifamily portfolio. The seller was a national multifamily debt and equity financier and Fannie Mae DUS lender selling the property out of foreclosure. David Goss and Jon Morgan of Interra Realty represented both parties in the transaction.
The second transaction is the sale of 3100 E. 83rd St. in the South Chicago neighborhood. The property is a 12-unit dual-entrance walkup apartment building. The property was sold on May 9 for $160,000 and consists of 11 three-bedroom apartments and one four-bedroom apartment. The buyer is a local private equity real estate fund that will complete a full gut rehab on half of the property and modest cosmetic work to the second half. The seller was a Chicago-based international bank selling the property out of foreclosure. David Goss and Jon Morgan of Interra Realty represented both parties in the transaction.
The third transaction is the sale of 2142 S. Albany in the Little Village neighborhood. The property is a six-unit walkup apartment building. The property was sold on May 18 for $50,000 and consists of six two-bedroom apartments. The buyer is a local real estate investment and management group. The seller was a Chicago-based international bank selling the property out of foreclosure. Andy Buchanan of Interra Realty represented both parties in the transaction.
