Interra Realty, a Chicago-based commercial real estate investment services firm, brokered the $17.5 million sale of a 60-unit multifamily building in Chicago’s Lakeview East neighborhood. The transaction equated to $291,667 per unit.
Interra Managing Partner Craig Martin and Senior Managing Partner Joe Smazal represented the buyer, Beal Properties, a Chicago-based private investment firm owned by Bill Silverstein. Martin and Smazal also represented the seller, Horizon Realty Group.
Located at 528 W. Oakdale Ave., the elevator building includes 20 studios, 36 one-bedrooms and four two-bedrooms. Constructed in 1970, the property has undergone a full modernization over the past 18 months that added market-leading unit finishes and upgrades to common-area amenities, including a fitness center, package room, additional laundry room and outdoor seating.
528 W. Oakdale is surrounded by Lakeview East’s numerous dining, shopping and entertainment options and is within walking distance of the Lincoln Park Zoo, Diversey Harbor and North Avenue Beach. The property is served by the CTA’s Wellington Brown Line station and multiple bus routes.
