Interra Realty brokered the sale of a 50-unit multifamily building in Chicago’s Lakeview neighborhood.
Interra Senior Managing Partner Joe Smazal represented the buyer, JAB Real Estate. Smazal also represented the confidential seller. This is the first time the asset has traded hands in 20 years.
Built in 1927, the courtyard building features 13 studio, 24 one-bedroom, one three-bedroom and six four-bedroom layouts. The property is located close to dining, shopping and entertainment options along Broadway and Halsted Street, with nearby attractions including Wrigley Field and Belmont Harbor. The property is served by the CTA’s Addison Red Line station and multiple bus routes.
“The buyer pool for well-performing multifamily in Chicago continues to run deep, and investors are particularly drawn to assets with irreplaceable locations like this one overlooking Lake Michigan,” said Smazal.
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