Interra Realty brokered the $9.2 million sale of Art House Eleven 21, a 16-unit, mixed-use apartment building in Wilmette, Illinois. The transaction equated to $576,562 per unit.
Interra Managing Partners Lucas Fryman and Craig Martin represented the buyer, Chicago-based HP Ventures Group. Fryman and Martin also represented the seller, a joint venture between 4 Corners, Gabe Horstick and Josh Krueger. HP Ventures assumed the existing low-interest loan on the property, which was fully leased at the time of sale.
Located at 1121 Greenleaf Ave. near Green Bay Road, the property was developed in 2018 and features six two-bedroom apartments, eight three-bedrooms and two retail spaces. High-end resident finishes include nine-foot ceilings, white oak hardwood flooring, quartz countertops, designer cabinets, stainless appliances, in-unit laundry, unit-controlled central HVAC and designer fixtures. There are 17 heated indoor parking spaces, and most of the units have covered patios or a terrace.
Art House Eleven 21 is within walking distance of Downtown Wilmette, including dining, shopping and entertainment options, as well as the Wilmette Metra station. The property is approximately a mile from Lake Michigan and is surrounded by numerous parks and golf courses.
