Interra Realty has arranged two deals comprising 44 residential units across two separate properties, located in Chicago’s Uptown and Rogers Park neighborhoods, for a total of $5.1 million. Senior Managing Partner Brad Feldman of Interra represented the buyer and seller in both transactions.
The first, $2.5 million sale included 20 units at 4901-4907 N. Kenmore Ave., a 22-unit property currently operating under a condominium agreement in Uptown. A single owner sold the rented-out units to a local real estate operator. In addition to renovating the 1898-built asset, the buyer plans to convert the building to rental apartments while acquiring the remaining two condo units.
The second community is located at 6439-6445 N. Richmond St., roughly 12 miles north of downtown Chicago. The 24-unit community is between Lincolnwood Centennial Park and Warren Park, two blocks north of the West Devon Avenue retail corridor.
In July, Interra brokered a $17 million deconversion sale in the Chicago area. The 91-unit, four-story building dates back to 1939.