Interra Realty Facilitates $2.795M River Grove Multifamily Sale With Local Operators

The transaction involved the sale of three multifamily properties in River Grove, Illinois. The 12-unit portfolio located at 8670-8674 W. Grand Ave. was sold for $1.72 million, while an eight-unit building at 8600 W. Grand Ave. was sold for $1.075 million, totaling a sale price of $2.795 million. The properties were acquired by separate ownership groups of local operators intending to self-manage the assets.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,795,000
• Units: 12
• Price Per Unit: $232,917
• Address: 8670-8674 West Grand Avenue & 8600 West Grand Avenue
• Market: River Grove

The sale was facilitated by brokers Nathan Zito, Patrick Kennelly, and Paul Waterloo from Interra Realty, along with Ralph Szypcio from Coldwell Banker. The transaction was announced by Interra Managing Partner Patrick Kennelly, Managing Director Paul Waterloo, and Associate Nathan Zito. The local operators who acquired the properties are set to manage the multifamily assets in River Grove.