CHICAGO, IL - Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it brokered the $5.1 million sale of 2156 and 2158 W. 21st St., a two-building, 24-unit vintage multifamily portfolio in Chicago’s Pilsen neighborhood. The deal equated to $212,500 per unit.
Interra Managing Director Jeremy Morton represented the confidential buyer, as well as the private seller. The properties were fully occupied at the time of sale.
“The Chicago multifamily market has seen sustained investor interest for assets that offer proven performance and an opportunity to scale up one’s portfolio,” said Morton. “This deal underscores how strategic improvements can enhance operational results and attract a deeper pool of capital.”
Constructed in 1893, the properties include nine one-bedroom, 12 two-bedroom and three three-bedroom layouts combined. Renovated in 2023, all units feature new kitchens with stainless steel appliances and quartz countertops, in-unit laundry and updated bathrooms with ceramic tile.
2156 and 2158 W. 21st are close to dining and shopping options along 18th Street and Western Avenue, employment centers like the Illinois Medical District and cultural attractions including the National Museum of Mexican Art. The area is served by the CTA’s Damen and Western Pink Line stations, Metra’s Western Avenue BNSF station and several 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 several 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