ELMWOOD PARK, ILL. — Interra Realty has arranged the $12.2 million sale of Harlem Towers, a two-tower multifamily property with 83 units in the Chicago suburb of Elmwood Park. Patrick Kennelly, Paul Waterloo and Nathan Zito of Interra represented the buyer, Pabcor Management, and 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 units, 55 two-bedroom residences and one three-bedroom apartment. In addition to some unit renovations, recent capital improvements include upgraded elevators, common area refurbishments and new fire alarm and elevator monitoring systems. The asset was built in 1975 and features two eight-story towers.
Harlem Towers will be rebranded as The American Elm after the elm trees that inspired Elmwood Park’s name.