Interra Realty, a reputable commercial real estate investment services firm based in Chicago, recently facilitated the sale of The Synagogue. This 40-unit multifamily property is located at 5029 N. Kenmore Ave in Uptown, one of the city’s most sought-after neighborhoods. The property was sold for $8.175 million or $204,375 per unit.
Originally built in 1922 as a temple, this building has been transformed into rental apartments since its reopening in 2019. Interra’s co-founder and Managing Principal Jon Morgan and Director Michael Duckler represented both the seller – Cedar Street from Chicago – and the buyer – a local private investor.
According to Morgan: “The former synagogue has been an integral part of this neighborhood for over a century and now offers residents not only luxurious living but also an opportunity to experience Chicago’s rich history.” Previously known as Agudas Achim North Shore Congregation before closing its doors in 2008, it was put up for sale by its board back in 2012. In order to convert it into apartments with modern amenities while preserving its unique architecture designed by Dubin & Eisenberg firm originally; Cedar Street acquired this historic building back on year later after being purchased by them during their acquisition spree that started off with buying properties like these starting from year-ago period when they bought out other properties too such as those which were closed down due financial difficulties faced earlier on their previous owners’ side.
This news article about Uptown Chicago’s iconic Synagogue Apartment Building Sale appeared first on Connect CRE.
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