Interra Realty, a Chicago-based commercial real estate investment services firm, announced it brokered the $9.625 million sale of 6930 N. Greenview Avenue in Chicago’s Rogers Park neighborhood.
Interra Managing Partner Patrick Kennelly represented the buyer, the Mehmeti family. Interra Senior Managing Partner Joe Smazal represented the confidential seller. The building, including residential and retail space, was fully occupied at the time of sale.
“The appetite for well-located, middle-market multifamily buildings on Chicago’s North Side hasn’t let up,” said Smazal. “This property generated immediate interest, going under contract in less than a week at just shy of full asking price.”
6930 N. Greenview Avenue was built in 1932 and features a mix of studio and one-bedroom layouts. Though the well-maintained building has had recent upgrades including a new boiler and updated elevator controls, the buyer has an opportunity to add value through strategic capital improvements. A local coffee shop, political field office and other uses occupy the retail spaces.
This is one of the largest multifamily sales in Rogers Park over the past year. In March, Interra Senior Managing Partner Brad Feldman facilitated the $16.1 million sale of a three-building, 115-unit portfolio.
Located close to dining and shopping options along Clark Street, 6930 N. Greenview is less than a mile from Loyola University Chicago and is within walking distance of Loyola Beach. The area is served by multiple CTA bus routes, the CTA’s Morse Red Line station and Metra’s Rogers Park station along the Union Pacific North Line.
Founded in 2010, Interra Realty is a Chicago-based commercial real estate services firm that delivers integrated, tailored solutions through its boutique, client-focused approach and team of experienced professionals. Since its inception, the firm has closed thousands of transactions valued in excess of $2 billion spanning the multifamily, office and retail sectors, as well as loan sales. Interra’s clients range from private investors and high-net-worth individuals to large financial institutions, private equity groups and hedge funds.
