Midwest

CHICAGO — Interra Realty has arranged the $11.7 million sale of a 46-unit apartment building at 4400 Drexel Blvd. in Chicago’s Kenwood neighborhood. Neither the buyer nor seller’s identity was disclosed. Interra’s Lucas Fryman represented the seller during the 2020 trade when the party was on the buy side. The community was 91 percent occupied at the time of the sale. Rents are subsidized via vouchers administered through the Chicago Housing Authority. Built in 1924, the courtyard-style building features one- and two-bedroom units.

CHICAGO — Becovic Residential, a Chicago-based owner and operator, has purchased The Winthorp Place in Chicago’s lakefront neighborhood of Edgewater for $5.5 million. Green Bay, Wisconsin-based Associated Bank provided a $4.7 million loan to Becovic for the acquisition. Located at 5710 North Winthorp Ave., the community was built in 1929 and features 42 units offered as studio and one-bedroom floor plans. Elizabeth Hozian with Associated Bank’s commercial real estate division arranged the loan, and Essex Realty Group arranged the sale. The building will be managed by Becovic Management Group.

CHICAGO — Greenstone Partners has arranged the sale of 633 S. Laflin St., a 16-unit community in Chicago’s Little Italy/University Village area. The asset traded between two undisclosed parties for approximately $3.1 million. The three-story building features a mix of one- and two-bedroom apartments. The property includes surface parking. Greenstone Partners’ Tom Galvin and Brewster Hague represented the seller, a private local owner, and procured the purchaser, a private partnership based in Illinois.