Interra Realty Facilitates $1.3M Sale Of Multifamily Property In Chicago's Lawndale Neighborhood

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.