Interra Realty Brokers Sale Of Three Multifamily Properties In Chicago For $12M

The transaction involved the sale of three multifamily properties located in Chicago, Illinois, with a combined price of $12,000,000. The properties include a 22-unit building situated at 931 West Leland Avenue, a 16-unit property located at 1909 West Larchmont Avenue, and a 13-unit mixed-use asset at 7240 West Devon Avenue. The buildings represent a total of 51 units, with a price per unit of $235,294.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $12,000,000
• Units: 51
• Price Per Unit: $235,294
• Addresses: 931 West Leland Avenue, 1909 West Larchmont Avenue, 7240 West Devon Avenue
• Market: Chicago

Interra Realty played a significant role in this off-market transaction, with brokers Joe Smazal, Joe Braun, and Colin O’Malley facilitating the sale. The properties were sold individually, with the 22-unit Uptown building at 931 W. Leland priced at $5M, the 16-unit North Center property at 1909-13 W. Larchmont selling for $3.6M, and the 13-unit mixed-use asset in Edison Park at 7240 W. Devon fetching $3.84M. Various agents from Interra Realty represented different parties in these transactions.