Interra Realty brokered the sale of two multifamily properties, each with nine units, in the Montclare neighborhood on Chicago’s Northwest Side – 3145 N. Nordica Ave. for $1.375 million, or $152,777 per unit; and 3037-39 N. Harlem Ave. for $1.33 million, or $147,777 per unit.
The 3145 N. Nordica building closed at full price and represented the highest price-per-unit for vintage apartment buildings in the city’s Montclare neighborhood in the last nine years, according to CoStar data.
Interra Managing Partner Patrick Kennelly, Managing Director Paul Waterloo and Associate Nathan Zito represented the seller of both properties, a local partnership that owned 3145 N. Nordica for more than 30 years and 3037-39 N. Harlem for 50 years. The same Interra team procured the buyer of 3037-39 N. Harlem, a local investor, while Beco Kalamperovic of Dream Town Real Estate represented the buyer of 3145 N. Nordica.
Built in 1965, 3145 N. Nordica consists of five two- bedroom and four one-bedroom units. The corner-lot property includes eight on-site parking spaces, seven storage lockers and shared laundry facilities. At the time of sale, the building had one vacancy. The new owner plans to renovate the apartments over time as tenants move out.
3037-39 N. Harlem was constructed in 1974, remaining under same ownership since then. Fully occupied at the time of sale, the building includes three two-bedroom and six one-bedroom units, eight on-site parking spaces and shared laundry facilities. The buyer also plans to renovate apartments as tenants move out.
