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Interra Realty Arranges $2.8M Sale Of Multifamily Buildings In Chicago And Norridge

Property Image
SOLD
$2,800,000
Patrick (Pat) Kennelly
+ 1

Illinois

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MultiFamily
Sold 04/25/2025
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Property Image
SOLD

Interra Realty Arranges $2.8M Sale Of Multifamily Buildings In Chicago And Norridge

3913 North Central Avenue & 4255 Neva Avenue

See Similar Deals
MultiFamily
Sold 04/25/2025
Patrick (Pat) Kennelly
+ 1
Contact now

Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

The transaction involved the sale of two fully occupied multifamily buildings located at 3913 North Central Avenue in Portage Park and 4255 Neva Avenue in Norridge, within the Chicago and Norridge markets. The sale price was $2,800,000, encompassing a total of 17 units with a price per unit of $164,706.

Summary of transaction details:

Interra Realty facilitated the sale by representing all sides in the Portage Park deal and the buyer in Norridge, while Richard Dawidiuk of RE/MAX Legends represented the seller in Norridge. The two properties were sold for $1.4 million each, with 8 units located at 3913 N. Central Ave. and 9 units at 4255 N. Neva Ave.

Players

Patrick (Pat) Kennelly
52 deals$326.9M volume
BROKER

Paul Waterloo
Interra Realty
52 deals$328M volume
BROKER


Nathan Zito
Interra Realty
12 deals$91.5M volume(312) 477-0192
BROKER

Details

SOLD
IMAGE: Nathan Zito, Paul Waterloo, Patrick Kennelly & Richard Dawidiuk DATE: 04/25/2025 ADDRESS: 3913 North Central Avenue & 4255 Neva Avenue MARKET: Chicago & Norridge ASSET TYPE: Multifamily BROKERS: Nathan Zito, Patrick Kennelly (@PJK8877) & Paul Waterloo (@PWaterloo) - Interra Realty (@InterraRealty); Richard Dawidiuk - Re/Max Legends SALE PRICE: $2,800,000 UNITS: 17 ~ PPU: $164,706 NOTE: Interra Realty arranged the sale of two fully occupied multifamily buildings on Chicago’s northwest side for $1.4M each—8 units at 3913 N. Central Ave. in Portage Park and 9 units at 4255 N. Neva Ave. in Norridge. Patrick Kennelly, Paul Waterloo, and Nathan Zito repped all sides in the Portage Park deal and the Norridge buyer, while Richard Dawidiuk of RE/MAX Legends repped the Norridge seller.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$149,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,947.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,273.43
Annual Debt Service$159,281.14