Interra Realty Brokers $28M Sale of Apartment Building on Chicago’s North Side

CHICAGO — Interra Realty has brokered the sale of an 80-unit apartment building in Chicago’s Lakeview neighborhood for $28 million. All the units at the property, built in 1986, feature one bedroom and one bath. The building was fully leased at the time of sale. Joe Smazal of Interra represented the seller, an entity of Chicago-based Mo2 Properties, as well as the buyer, an affiliate of Chicago-based Beal Properties. The new owner plans to make cosmetic improvements to the property’s exterior and rebrand it as The Nines on Grace. Located at 944-54 W. Grace St., the asset is situated near Sydney R. Marovitz Golf Course.