Interra Realty recently brokered the sale of a 60-unit multifamily building in Chicago’s desirable Lakeview East neighborhood for $17.5 million, equating to $291,667 per unit. The buyer, Beal Properties, was represented by Interra’s Managing Partner Craig Martin and Senior Managing Partner Joe Smazal. They also represented the seller Horizon Realty Group.
The elevator building at 528 W. Oakdale Avenue features a mix of studios, one-bedroom and two-bedroom units that have undergone a full modernization over the past year and a half since its construction in 1970. Its prime location offers residents easy access to dining, shopping and entertainment options as well as popular attractions like Lincoln Park Zoo and North Avenue Beach.
According to Martin, securing an offer close to asking price within just two weeks on the market highlights the strong demand for high-quality properties in sought-after neighborhoods like Lakeview East.
