Skip to content
Homepage
  • Market
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Michigan
    • Midwest
    • Minnesota
    • Missouri
    • N Dakota
    • National
    • Nebraska
    • Ohio
    • S Dakota
    • Tennessee
    • Texas
    • Wisconsin
  • Events
  • Sector
    • CRE
    • Finance
    • Healthcare
    • Hospitality
    • Industrial
    • Legal
    • Multifamily
    • Net Lease
    • Office
    • Retail
    • section
    • Seniors Housing
    • Student Housing
  • Real Estate Awards
  • Subscribe
  • Publications

Interra Realty brokers apartment building sale in Chicago’s West Town

January 17, 2019
Share on Facebook Share on Twitter Share on LinkedIn Share via email

Chicago-based Interra Realty has brokered the sale of a 14-unit multifamily property at 1436 W. Erie Street, in Chicago’s West Town neighborhood. Interra managing partner Brad Feldman and director Adam Saxon represented both the buyer and seller in the $3.275 million transaction.

“The high per-unit price underscores the growing desirability of this submarket,” said Feldman. “Its proximity to downtown, neighborhood feel and relative value compared with nearby areas like Fulton Market have raised the profile of West Town in the eyes of investors, who are eager to buy before prices climb higher.”

Built in 1889 and extensively renovated in 2017, the property includes a mix of studio, one- and two-bedroom apartments, which were fully leased at the time of closing. The buyer plans to make further updates to units that were not yet updated by the seller.

“The seller preserved many of the building’s original architectural details—for example, the original common stairwell and exposed brick in several units—while modernizing kitchens and baths to bring the units up to market standards,” said Feldman. “With two apartments still in need of updates, the buyer saw an opportunity to create additional value.”

The building is less than two blocks from multiple CTA bus routes and within walking distance of shops, restaurants and nightlife along Chicago, Grand, Ashland and Ogden avenues. In addition, West Town is minutes from downtown via the Kennedy Expressway, which also offers convenient access to other destinations throughout the metro.

Tags
ChicagoIllinoisInterra Realtymultifamilywest town
" "

Subscribe

Subscribe to our email list to read all news first.

Subscribe
Related Articles
IllinoisCRE

Waterton and Almanac Realty Investors announce strategic minority investment

May 20, 2022
TexasMultifamily

Marcus & Millichap arranges sale of 127-unit apartment building in Dallas

May 20, 2022
WisconsinIndustrial

PARADIGM Real Estate closes sale of 13,811-square-foot industrial property in Milwaukee

May 20, 2022
MissouriCRE

St. Louis’ Kwame Building Group adds human resources manager

May 20, 2022

Subscribe

Subscribe to our email list to read all news first.

Subscribe
REJournals logo

Market

  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Michigan
  • Midwest
  • Minnesota
  • Missouri
  • N Dakota
  • National
  • Nebraska
  • Ohio
  • S Dakota
  • Tennessee
  • Texas
  • Wisconsin

Sector

  • CRE
  • Finance
  • Healthcare
  • Hospitality
  • Industrial
  • Legal
  • Multifamily
  • Net Lease
  • Office
  • Retail
  • section
  • Seniors Housing
  • Student Housing

Subscribe

Subscribe to our email list to read all news first.

Subscribe
  • Contact Us
  • Events
  • Office Locations
  • Advertise/Editorial Calendar
© 2022 REjournals.com