REBusinessOnline

Interra Realty Brokers $3.7M Sale of Apartment Building in Chicago’s Edgewater Neighborhood

Located at 5827 N. Ridge Ave., the property rises four stories and includes 18 units.

CHICAGO —Interra Realty has brokered the sale of 5827 N. Ridge Ave., a four-story, 18-unit apartment building in Chicago’s Edgewater neighborhood, for $3.7 million. Built in 1926, the property was gut-renovated in the past year, and the apartments were fully occupied at the time of sale. It is located near public transportation and is approximately 10 miles from downtown Chicago. Patrick Kennelly and Paul Waterloo of Interra represented both the seller, Campbell Street Asset Management Inc., and the buyer, a local private investor, in the transaction. At $205,555 per unit, the sale represents the second-highest per-unit price in Edgewater so far in 2019, according to data from CoStar Group.

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