Interra Realty, a Chicago-based commercial real estate investment services firm, brokered the sale of a 36-unit transit-oriented multifamily property in the Fulton River District of Chicago’s West Loop neighborhood. The building sold for $11.05 million, equating to $306,944 per unit.
Interra Managing Principals David Goss and Jon Morgan, along with Director Harrison Pinkus, represented the seller, Monroe Residential Partners. Interra Senior Managing Partner Brad Feldman represented the buyer, a local private investor.
Located at 851 W. Grand Ave., the boutique property features seven studios, 20 one-bedroom units and nine two-bedroom units. Community amenities include a bike room, dry-cleaning pickup, tenant storage, package room and on-site parking. Units offer stainless appliances, in-unit laundry, quartz countertops and digital thermostats. Most have private balconies. The property, constructed in 2017, was 95% occupied at the time of sale.
The property is one block from the CTA Grand Blue Line station and is also in proximity to multiple CTA bus routes and the Kennedy Expressway. Nearby amenities include a variety of restaurants, nightclubs and retail shops.
