Interra Realty brokered the off-market sale of a 33-unit mixed-use property at 5704 S. Harper Ave. in the city’s Hyde Park neighborhood for $6.6 million.
Interra Senior Managing Partner Brad Feldman represented both the buyer, a local private investor, and seller, a private family partnership.
The corner building includes 28 one-bedroom apartments and five commercial spaces, the latter of which are fully leased by a Subway restaurant, bike shop, convenience store, barbershop and real estate office. At the time of sale, the residential units were also fully occupied.
On-site resident amenities include a bike room and laundry facilities.
5704 S. Harper is centrally located in Hyde Park, less than a half-mile from the Museum of Science and Industry and Lake Michigan. The property is one block from the 55th-56th-57th Street Metra station, close to multiple CTA bus routes and near numerous restaurants, storefronts and parks.
Interra has closed several recent multifamily deals in Hyde Park, including an eight-unit property at 5130 S. Greenwood Ave., brokered by Feldman in June for $2.92 million, or $365,000 per unit, the highest price per unit for a vintage property in the submarket in five years, per CoStar.
