CHICAGO, IL - Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it brokered three separate multifamily transactions in southwest suburban Chicago. The deals included the $2.34 million sale of 9822 Nottingham Ave. in Chicago Ridge, Ill.; the $1.73 million sale of 10821 S. Keating Ave. in Oak Lawn, Ill.; and the $1.05 million sale of a two-building portfolio in Midlothian, Ill., comprising 14613 S. Keystone Ave. and 14639 S. Karlov Ave.
Interra Managing Director Michael Duckler represented the confidential buyers and sellers in all three off-market transactions. All buildings were fully occupied at the time of sale.
“Chicago’s southwest suburbs are seeing a noticeable uptick in demand as investors recognize the area’s strong fundamentals and long-term upside,” said Duckler. “While transaction volume has been relatively limited in recent years, these three deals signal renewed momentum and growing confidence in the submarket.”
9822 Nottingham Ave., Chicago Ridge
Built in 1971, the 18-unit 9822 Nottingham features eight one-bedroom, six two-bedroom and four three-bedroom layouts, some with balconies. The buyer plans to upgrade unit interiors, replace mechanical systems and improve the building exterior and parking lot.
9822 Nottingham is close to dining, shopping and entertainment options along 95th Street and at the nearby Chicago Ridge Mall. The area is served by Metra’s Chicago Ridge station on the SouthWest Service line and the Tri-State Tollway.
10821 S. Keating Ave., Oak Lawn
The 12-unit 10821 S. Keating was constructed in 1979 and features four one-bedroom and eight two-bedroom layouts, all with balconies. The buyer plans to refresh unit interiors.
10821 S. Keating is close to dining, shopping and entertainment options along Cicero Avenue and is less than 2 miles from St. Xavier University. The area is served by Metra’s Chicago Ridge station on the SouthWest Service line and the Tri-State Tollway.
14613 S. Keystone Ave. and 14639 S. Karlov Ave., Midlothian
14613 S. Keystone and 14639 S. Karlov include a combined 12 units, with two one-bedroom and 10 two-bedroom layouts. The buyer intends to renovate unit interiors, upgrade mechanical systems and improve the building exterior and parking lot.
The buildings are close to dining, shopping and entertainment options along 147th Street and Cicero Avenue. The area is served by Metra’s Midlothian station on the Rock Island line and the Tri-State Tollway.
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