Interra Realty facilitated the sale of two multifamily buildings in Wheaton, Illinois, a suburb of Chicago.
The 18-unit Liberty Square Flats sold for $8.4 million, equivalent to $466,666 per unit, and the 44-unit Lorraine Court Apartments transacted for $6.95 million, or $157,954 per unit.
Interra Associate Nathan Zito, Managing Partner Patrick Kennelly and Managing Partner Paul Waterloo represented Liberty Square Flats, LLC, the seller of Liberty Square Flats, as well as the buyer, a confidential local investor. Zito, Kennelly and Waterloo also represented LCA, LLC in the sale of Lorraine Court Apartments, as well as the buyer, one of the largest owners of middle-market apartment properties in DuPage County. Both properties were sold as part of 1031 exchange transactions.
Situated at 302 W. Liberty Drive, Liberty Square Flats is a luxury boutique building constructed in 2024. The property’s 18 two-bedroom units feature private balconies, quartz countertops, smart thermostats, stainless steel appliances, custom closets and in-unit full-size washers and dryers. Building amenities include a rooftop deck, dog washing station, outdoor patio with a grill, storage closets, heated garage parking with EV chargers, surface parking and keyless access.
Lorraine Court Apartments, located at 1110-1140 S. Lorraine Road, was constructed in 1972 and includes 20 one-bedroom and 24 two-bedroom layouts. The spacious units feature a private balcony or patio access and radiant heat. Laundry facilities and surface parking are available for residents.
