SOLD
Interra Realty Facilitates $1.3M Sale Of Multifamily Property In Chicago's Lawndale Neighborhood
1858 South Springfield Avenue
MultiFamily
Sold 56 days ago
Summary
Sale
ILLINOIS
MultiFamily
An apartment building consisting of 13 units located at 1858 South Springfield Avenue in Chicago was sold for $1.3 million. Each unit was sold for $105,000, resulting in a per unit price of $100,000. The property is situated in Chicago's Lawndale neighborhood and offers the buyer a strategic opportunity for upgrades and rent increases, given its proximity to transit options.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,300,000
- Units: 13
- Address: 1858 South Springfield Avenue
- Market: Chicago
Interra Realty facilitated the sale of the 13-unit apartment building, with the seller being Brilliant Future LLC. The deal was brokered by Lucas Fryman and Ted Stratman from Interra Realty. Lucas Fryman, representing the buyer, intends to enhance the property and capitalize on its location to improve rental income.
Players
All
3
Agents
2
Agencies
1
Details
SOLD
IMAGE: Lucas Fryman & Ted Stratman
DATE: 03/07/2024
ADDRESS: 1858 South Springfield Avenue
MARKET: Chicago
ASSET TYPE: Multifamily
SELLER: Brilliant Future LLC
BROKERS: Lucas Fryman (@LFrydaddy) & Ted Stratman (@TStratman) - Interra Realty (@InterraRealty)
SALE PRICE: $1,300,000
UNITS: 13 ~ PPU: $100,000
NOTE: Interra Realty brokered the $1.3 million sale of a 13-unit apartment building in Chicago's Lawndale neighborhood, with each unit selling for $105,000. The buyer, represented by Interra's Lucas Fryman, plans to upgrade the property and increase rents, taking advantage of its proximity to transit options.View on map
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Address1858 South Springfield Avenue
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