Interra Realty Brokers $12M Sale of Suburban Chicago Multifamily
Interra Realty brokered the $12.18 million sale of Harlem Towers, a two-tower, 83-unit multifamily property in Elmwood Park, Illinois. The sale equated to $146,746 per unit.
Interra Managing Partner Patrick Kennelly, Managing Partner Paul Waterloo and Director Nathan Zito represented the buyer, Pabcor Management, which is led by principals Ted Arvanitis, Gus Pablecas and Matt Pablecas. Kennelly, Waterloo and Zito also represented the seller, Neder Capital Services. Yaryna Makarchuk served as the seller’s representative throughout the transaction.
Located at 2300-2310 N. Harlem Ave., the property includes 27 one-bedroom, 55 two-bedroom and one three-bedroom layouts. Harlem Towers was constructed in 1975 and features two eight-story towers, as well as below-grade and street-level covered parking. The property will be rebranded as The American Elm, and it is served by Metra’s Mont Clare station on the Milwaukee District West Line and multiple CTA bus routes.
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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