Interra Realty, a Chicago-based commercial real estate investment services firm, brokered the $1.84 million sale of a 15-unit multifamily property in Forest Park, Illinois, located about 10 miles west of Chicago. The transaction equated to $122,666 per unit.
Interra Managing Partner Patrick Kennelly and Director Paul Waterloo represented the local investor in the acquisition. In addition, Kennelly and Waterloo sourced and represented the confidential seller. The property was fully occupied at the time of sale.
Located at 102 Rockford Ave., the three-story building was constructed in 1979. The property features five studios and 10 one-bedroom units. The new owner plans to operate the property as is.
102 Rockford is situated less than four blocks from CTA’s Harlem/Lake Green Line station and is approximately one mile from both the River Forest Metra station and the Eisenhower Expressway. Nearby amenities include Brookfield Zoo, North Riverside Park Mall and numerous golf courses and forest preserves.
