Interra Realty Brokers $1.8M Sale of Two Multifamily Properties in Chicago Suburbs

OAK PARK AND CICERO, ILL. — Interra Realty has brokered the $1.8 million sale of two multifamily properties in the suburbs of Chicago. A property at 428 S. Scoville Ave. in Oak Park sold for $1 million at a capitalization rate of 5.8 percent. The 10-unit property consists of eight one-bedroom units and two two-bedroom units. The property also includes 15 parking spaces. Patrick Kennelly of Interra Realty represented both parties in the transaction. In the second deal, a property at 1900 S. 51st Ave. in Cicero sold for approximately $800,000 at a capitalization rate of 10.7 percent. The building included six two-bedroom units, four one-bedroom units and nine studio apartments for a total of 19 units. Kennelly, along with James Clough and Joe Smazal of Interra Realty, brokered the transaction. All parties in both transactions are undisclosed locals.