Interra Realty brokered the $10.4 million sale of reVerb Century Station, a mixed-use property in Berwyn, Illinois. The transaction came in at a record price for multifamily or mixed-use properties in the suburb, according to CoStar data.
The 52-unit apartment building with 10,662 square feet of ground-floor commercial space traded for $185,714 per unit.
Interra Senior Managing Partner Joe Smazal, Managing Partner Patrick Kennelly and Managing Director Paul Waterloo represented the confidential seller. Smazal, Kennelly and Waterloo also represented the buyer, an undisclosed investment group that assumed the loan from the seller.
Located at 3200 S. Oak Park Ave., reVerb Century Station was constructed in 2010. The property features four ground-floor retail suites, 12 one-bedroom apartments and 40 two-bedroom units. All residences feature in-unit laundry and have been recently improved with new vinyl flooring, stainless steel appliances and modern closet systems. Amenities include a lobby with intercom entry, elevator, heated garage and exterior parking. The buyer plans to renovate common areas and add a package system for residents.
Situated in Berwyn’s historic district, reVerb Century Station is within walking distance from the suburb’s largest employer, MacNeal Hospital, as well as retail and dining options along Harlem Avenue. The property is one block from the Berwyn Metra station, served by the BNSF line, and less than 4 miles from both the Eisenhower and Stevenson expressways.
