Interra Realty Arranges $5.8M Sale of Luxury Apartment Building in Chicago’s Lincoln Park

CHICAGO — Interra Realty has arranged the sale of a 12-unit luxury apartment building in Chicago’s Lincoln Park neighborhood for $5.8 million. The price per unit of $481,250 is the highest in the submarket in four years, according to CoStar. The asset was built in 2017 as condos but has always operated as a rental property. It is located at 1513-17 W. Diversey Parkway. Jeremy Morton and Ted Stratman of Interra represented the seller, a local real estate developer. A California-based private investor purchased the property while completing a 1031 exchange. The building was fully leased at the time of sale.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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