Interra Realty Brokers $1.45 Million Sale of Apartment Building in Chicago's Western Suburb of Oak Park

CHICAGO, IL - Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it brokered the $1.45 million sale of 426 Wesley Ave., an 11-unit apartment building in Oak Park, Ill., a western suburb of Chicago. The price per unit was $131,818. 

Interra Realty Senior Managing Partner Joe Smazal, Managing Partner Pat Kennelly and Director Paul Waterloo were exclusively engaged by the private seller to market the property. Smazal, Kennelly and Waterloo also represented the private buyer, who acquired the property through a 1031 exchange. 

“This well-maintained, professionally managed asset in one of Chicago’s most popular inner-ring suburbs attracted multiple offers from our deep pool of qualified buyers looking in the area,” said Kennelly. “As investors seek stability in these tougher economic times, middle-market multifamily is proving to be a popular choice. As a result, we continue to see healthy transaction activity throughout Chicago and the suburbs.” 

Built in 1960, 426 Wesley Ave. offers eight one-bedroom and three two-bedroom units. The property also features off-street parking, a common laundry room and elevator, the latter of which is comparatively rare in the submarket. 

426 Wesley Ave. is located near several CTA bus routes, as well as the Blue and Green lines, which provide service to downtown Chicago. In addition, the Oak Park Metra station is approximately 1 mile northwest of the property, while the Eisenhower Expressway is less than a mile to the south.


Capital Square Completes Acquisition of 304-Unit Luxury Multifamily Community in One of Houston's Most Exclusive Neighborhoods HOUSTON, TX - Capital Square, one of the nation's leading sponsors of tax-advantaged real estate investments and an active developer of mixed-use multifamily communities, announced the acquisition of a Class A, 304-unit multifamily community in Houston, Texas. The community, developed by Wood...

More Stories

Get The Newsletter

Get The Newsletter

The latest multifamily industry news delivered to your inbox.