Interra Realty, a Chicago-based commercial real estate investment services firm, has brokered the $8.18 million sale of a 51-unit multifamily property in Chicago’s Lincoln Park neighborhood. The property, 2718 N. Hampden Court, traded for $160,392 per unit.
Interra Managing Partner Craig Martin represented the seller, the Manilow family, second-generation owners who are planning to condense their real estate portfolio. Interra led a national marketing campaign that resulted in 40 property tours and 10 offers. The winning bidders, investors Gabe Horstick and Edwin Vdovets, who were also represented by Martin, will gut-renovate the building and add condo-quality finishes in the units.
2718 N. Hampden Court comprises all one-bedroom units. The property is located off Clark Street, with a variety of nearby restaurants, shops and grocery stores, and is less than a one-mile walk from the Lincoln Park Conservatory. The property is also served by several CTA bus routes, including those connecting to the Brown and Purple lines.
