Interra Realty has brokered the $2.3 million sale of a 35-unit apartment building in Chicago. Jon Morgan and David Goss led the team representing the seller—The Wolcott Group, according to public records. Joe Smazal assisted the buyer. In May, Smazal was involved in a $3.1 million, 39-unit deal in the city’s western suburbs.
Built in 1929 as a hotel, the property has 27 studios and eight one-bedroom units. Common-area amenities include laundry facilities and bike storage. The new owner plans to update units as they become available. At the time of the sale, the asset was 97 percent occupied.
Located at 6126-28 S. Woodlawn Ave., the asset is at the southern end of the University of Chicago’s campus, 2 miles east of the Dan Ryan Expressway. The property is accessible to both the Loop and the wider metro, with Metra and “L” stations within a mile. The community is also 1 mile from the Museum of Science and Industry and 7 miles from downtown Chicago.