Interra Realty brokered the sale of a three-property, 18-unit multifamily portfolio on the city’s Northwest Side near O’Hare International Airport for $3.1 million, or $172,505 per unit.
The six-flat buildings, at 8622 W. Berwyn Ave., 8657 W. Berwyn Ave., and 5240 N. Oakview Ave., were all constructed in 1969.
Interra Managing Partner Patrick Kennelly, Managing Director Paul Waterloo and Associate Nathan Zito represented the portfolio’s seller, a local partnership. The buyer, also a local partnership, was represented by Jay Chandran of Jay C. Realty. This marks Interra’s fourth closing within the O’Hare submarket in the last six months, including 8531-35 W. Bryn Mawr Ave. in December 2023 for $1.74 million.
The 8622 W. Berwyn property, which sold for $1.055 million, represented the highest price for a six-flat within the O’Hare submarket in the last five years, per Redfin data. Under the same ownership for nearly 20 years, the building consists entirely of two-bedroom units and includes six surface parking spaces, on-site laundry and tenant storage.
Two cornering properties, 8657 W. Berwyn and 5240 N. Oakview, sold for $1.05 million and $1.025 million, respectively. The Berwyn building consists of four two-bedroom, one three-bedroom and one one-bedroom unit, while the Oakview property includes six two-bedroom units. Previously under the same ownership for over 30 years, the buildings include a mix of garage and surface parking spaces, on-site laundry and tenant storage.
The properties are close to the CTA’s Cumberland Blue Line station, Kennedy Expressway and Schiller Woods, a 284-acre, multi-use forest preserve along the Des Plaines River.
