CHICAGO, IL - Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it brokered the $1.25 million sale of a six-unit apartment building in Chicago’s Bucktown neighborhood. The transaction equated to $208,333 per unit.
Interra Senior Managing Partner Brad Feldman and Director Harrison Pinkus represented Marc Realty in the sale. Feldman and Pinkus also represented the buyer, Chicago-based Base 3 Development.
“The property has an excellent location in the heart of Bucktown and was in great shape, but still provides an ability for the buyer to do some light updates and drive the rent roll further,” said Feldman. “We had a lot of interest and multiple written offers as investor demand for stabilized, well-located assets remains strong.”
Located at 2102 N. Damen Ave., the property includes three one-bedroom, one two-bedroom and two three-bedroom units. Each apartment features hardwood floors, in-unit laundry and individual HVAC and hot water heaters. The property has been very well maintained, with recent upgrades to electric and plumbing systems. In addition, the property features two off-street parking spaces.
2102 N. Damen is within walking distance of The 606 trail as well some of Chicago’s most popular dining, shopping and entertainment options along Milwaukee Avenue. Nearby transit options include Metra’s Clybourn station – served by the UP-N and UP-NW lines – the CTA’s Western Blue Line station and multiple CTA bus routes.
About Interra Realty: Founded in 2010, Interra Realty is a Chicago-based commercial real estate services firm that delivers integrated, tailored solutions through its boutique, client-focused approach and team of experienced professionals. Since its inception, the firm has closed thousands of transactions valued in excess of $2 billion spanning the multifamily, office and retail sectors, as well as loan sales. Interra’s clients range from private investors and high-net-worth individuals to large financial institutions, private equity groups and hedge funds. For more information, visit www.interrarealty.com