Interra Realty, a Chicago-based commercial real estate investment services firm, announced it brokered the $3.25 million sale of a 12-unit apartment building at 4016-18 N. Kenmore Avenue in Chicago’s Buena Park neighborhood. The price per unit was $270,833.
Interra Senior Managing Partner Joe Smazal, Managing Partner Patrick Kennelly and Managing Director Paul Waterloo represented the buyer, Drexel Properties, a repeat client of the firm. Smazal, Kennelly and Waterloo also represented the seller, a private investor.
“The property’s market-leading price per unit is the result of it being fully renovated and occupied, as well as its walkability to Wrigley Field and the many amenities found throughout the surrounding neighborhood,” said Smazal. “We were able to procure multiple offers in less than a week, suggesting that investment activity will continue to ramp up as we progress through 2024.”
The fully-occupied, boutique Kenmore Avenue property includes four three-bedroom duplex units offering 1,400 square feet of living space, as well as two two-bedroom and six one-bedroom apartments which offer 750 to 900 square feet. All residences feature high-end finishes throughout; 9½- to 13½-foot ceilings; kitchens with granite countertops and stainless steel appliances; central air; and in-unit washer/dryer hookups. There is also a laundry facility on-site. Eight on-site parking spaces provide additional income.
4016-18 N. Kenmore Avenue is approximately three blocks from Wrigley Field and located near abundant restaurant, retail and nightlife options in the Buena Park, Lakeview and Uptown neighborhoods. In addition, the property is a half-block from the Sheridan Red Line station and close to multiple CTA bus routes.
