Interra Realty brokered the $2.55 million sale of 2300-2312 S. Central Ave., a 24-unit mixed-use building in Cicero, Illinois.
The vintage property, which features 22 apartments and two retail spaces, traded for $106,250 a unit.
Interra Director Michael Duckler, Managing Partner Patrick Kennelly, Managing Partner Paul Waterloo and Associate Nathan Zito represented both the confidential buyer and the unnamed seller. The transaction is Cicero’s largest so far in 2025 by total dollar amount and unit count, according to CoStar data.
Constructed in 1918, the property includes 22 two-bedroom units, 14 of which are duplexes, as well as two retail spaces. It also offers 18 indoor garage parking spots, with additional exterior surface parking accommodating 34 vehicles.
Suburban Chicago multifamily sales have risen dramatically recently. Data collected by Interra’s suburban multifamily investment team found a 69% year-over-year increase in total dollar volume of multifamily transactions priced between $1 million and $50 million through first-quarter 2025, with a 65% increase in the number of deals closed. Interra also reported a rise in out-of-state capital and an 18% growth in the average price per unit.
2300-2312 S. Central is located close to dining and shopping options along Cermak Road and Cicero Avenue. The area is served by the CTA’s Pink Line, Metra’s BNSF Line and multiple bus routes.
