Interra Realty Brokers $1.84M Sale Of 15-Unit Multifamily Property In Forest Park, Illinois

A 15-unit multifamily property located at 102 Rockford Avenue in Forest Park, Illinois was recently sold for $1.84 million. Each unit was priced at $122,666, and the property was acquired by a local investor as part of a 1031 exchange. Despite economic uncertainty and high-interest rates, the investor decided to expand their apartment portfolio through this transaction.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,840,000
• Address: 102 Rockford Avenue
• Market: Forest Park
• Brokers: Patrick Kennelly & Paul Waterloo - Interra Realty
• Units: 15
• Price Per Unit (PPU): $122,667

Interra Realty played a key role in brokering the sale of the property. Patrick Kennelly and Paul Waterloo, representatives of Interra Realty, facilitated the transaction and ensured a successful deal for both the buyer and the seller. Despite the challenging economic climate and the current interest rate environment, both parties were able to reach an agreement that met their respective objectives.