SOLD
ICM Properties Acquires 28-Unit Multifamily Property In Chicago's Lincoln Park For $9.6M
1900-16 North Lincoln Avenue
MultiFamily
Sold 137 days ago
Summary
Sale
ILLINOIS
MultiFamily
Interra Realty has brokered the $9.6 million sale of a 28-unit multifamily property located at 1900-16 North Lincoln Avenue in Chicago's Lincoln Park neighborhood. The transaction equates to a price of $342,857 per unit, reflecting the increasing investor confidence in well-located assets in Chicago, especially those with a long-term hold strategy.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,600,000
- Units: 28
- Price per Unit (PPU): $342,857
- Market: Chicago
- Buyer: ICM Properties - Seth Kramer
- Broker: Joe Smazal - Interra Realty
Joe Smazal from Interra Realty represented the buyer, ICM Properties, and the local private seller in this off-market deal. The successful transaction highlights the growing interest of investors in well-positioned properties in Chicago, showcasing the confidence in the market's long-term potential.
Players
All
2
Agents
1
Agencies
1
Details
SOLD
IMAGE: Joe Smazal
DATE: 12/15/2023
ADDRESS: 1900-16 North Lincoln Avenue
MARKET: Chicago
ASSET TYPE: Multifamily
BUYER: ICM Properties (@ICMProperties) - Seth Kramer
BROKER: Joe Smazal (@JSmazal) - Interra Realty (@InterraRealty)
SALE PRICE: $9,600,000
UNITS: 28 ~ PPU: $342,857
NOTE: Interra Realty has brokered the $9.6 million sale of a 28-unit multifamily property in Chicago's Lincoln Park neighborhood, equating to $342,857 per unit. Interra's Joe Smazal represented the buyer, ICM Properties, and the local private seller in the off-market deal, highlighting increasing investor confidence in well-located Chicago assets, particularly for those with a long-term hold strategy.View on map
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Address1900-16 North Lincoln Avenue
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