Interra Realty recently facilitated the sale of reVerb Century Station, a mixed-use property in Berwyn, Illinois for $10.4 million. This transaction sets a new record price for multifamily and mixed-use properties in the suburb.
The 52-unit apartment building includes 10,662 square feet of ground-floor commercial space and was sold at an average price of $185,714 per unit. The seller’s identity remains confidential but they were represented by Interra Senior Managing Partner Joe Smazal along with Managing Partners Patrick Kennelly and Paul Waterloo.
Interra also represented the buyer – an undisclosed investment group who took over the loan from the seller. According to Kennelly: “This sale marks a significant milestone for Berwyn as it demonstrates continued demand for high-quality suburban properties.”
Built in 2010, reVerb Century Station is located at 3200 S Oak Park Avenue and boasts four retail suites on its ground floor along with twelve one-bedroom apartments and forty two-bedroom units. Its prime location within Berwyn’s historic district places it near major employers such as MacNeal Hospital as well as popular retail and dining options on Harlem Avenue.
This successful transaction highlights Interra Realty’s expertise in brokering deals that meet both buyers’ needs while setting new records within their respective markets.
