Interra Realty Brokers Sale of Albany Park Multifamily Properties
Interra Realty brokered the sale of two multifamily properties in Chicago. The 24-unit 4954 N. Christiana Ave. in the Albany Park neighborhood sold for $4.5 million, and the 10-unit 4321-23 N. Tripp Ave. in the Old Irving Park neighborhood traded for $2.2 million.
Interra Managing Partner Craig Martin represented the seller, HP Ventures Group, in both transactions. Martin also represented the buyers: Eloy Burciaga, who purchased 4954 N. Christiana, and John Krumsee, who acquired 4321-23 N. Tripp. Both properties were fully occupied at the time of sale.
“Chicago’s multifamily market is very active at the moment, especially among local investors looking for high-quality, stabilized assets with no deferred maintenance,” said Martin. “Despite only being on the market for a couple of weeks, these properties generated nearly 60 tours and 15 competitive offers.”
The courtyard-style 4954 N. Christiana includes eight one-bedroom and 16 two-bedroom apartments. 4321-23 N. Tripp features two one-bedroom, five two-bedroom and three four-bedroom layouts.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout