Interra Brokers Sale of North Side Multifamily Portfolio

Interra Brokers Sale of North Side Multifamily Portfolio
News| July 8, 2025| Jasmine Kilman
Chicago & Midwest + Apartment Buildings

Interra Realty has brokered the $10.8 million sale of a seven-building multifamily portfolio in Chicago’s West Ridge neighborhood. The garden-style buildings include 94 units, equating to $114,894 per unit.

Interra Senior Managing Partner Joe Smazal represented the confidential local buyer and the seller, a West Coast-based private investor. As part of the transaction, the buyer assumed the seller’s CMBS loan.

“With strong demand for workforce housing on Chicago’s North Side, there has been sustained interest in well-located middle-market properties,” said Smazal. “Closing at 99% of list price after being on the market for less than a week, this deal reinforces investor confidence in this submarket and this asset class.”

Located at 6705-37 N. California Ave., the buildings include 38 studios, 53 one-bedroom units and three two-bedroom units. The properties are located close to multiple dining, shopping and entertainment options along Devon Avenue.

Other News

Benedict Canyon Acquires Neighboring West Hollywood Properties

California & West + Apartment Buildings

Marcus & Millichap completed the sale and financing of 884 and 939 Palm Ave., two multifamily properties totaling 72 units in West Hollywood. The assets traded for $29.85 million, or $414,583 per unit. Tony Azzi and Rabbie Banafsheha of The Azzi Group of Marcus & Millichap exclusively represented the seller, a private family investor. Azzi,...

Learn more

JLL Arranges Refi for Mixed-Use Residential on Long Island’s South Shore

New York & Tri-State + Apartment Buildings

JLL Capital Markets arranged a $154.25-million refinancing for Greybarn Amityville, a mixed-use residential property in Amityville, NY, owned by Rechler Equity Partners. Senior managing directors Peter Rotchford and Andrew Scandalios and director Clayton Ross arranged the financing through PCCP, LLC. “Lenders are looking closely at how a multifamily property performs today and at the owner’s...

Learn more

RioCan Repositions $235M In Assets, Including 80-Storey Yorkville Tower

Canada + Apartment Buildings

RioCan is shifting $235M in residential development assets toward commercial uses, a move disclosed in its third-quarter results that raises questions about plans for an approved 80-storey condominium tower on Toronto’s Mink Mile. The tower at 83–95A Bloor St. W., planned with Parallax, received zoning approval in December 2024. But RioCan’s latest financial statements identify...

Learn more
New call-to-action

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up