Interra Realty, a Chicago-based commercial real estate investment services firm, announced it facilitated the sale of two multifamily transactions, dubbed the SR8 Portfolio, in the south suburbs of Chicago.
Interra Director Michael Duckler represented the confidential buyers and sellers on both sides of the SR8 Portfolio deal.
“Multifamily property values in Chicago’s south and southwest suburbs continue to climb as local and out-of-state investors are attracted to the area’s high occupancy rates and steady rent increases,” said Duckler. “Whether it’s a value-add asset with strong return opportunities or a stabilized property with reliable cash flow, investors are actively targeting this submarket for its long-term growth potential.”
Located close to dining and shopping options along Sibley Boulevard, the Dolton properties offer easy access to Interstates 57 and 94. The area is served by the Metra Electric Riverdale station.
The Oak Lawn asset was fully leased at the time of sale and sold for $147,000 per unit, one of the highest price-per-unit sales in Oak Lawn in the last decade, according to CoStar data. Featuring six one-bedroom, five two-bedroom and one three-bedroom apartments, the well-maintained property offers condo-level finishes, private balconies, secured entrances and both covered and surface parking on-site.
