CHICAGO — Interra Realty, a Chicago-based commercial real estate investment services firm, has arranged the sale of 506 W. Deming Place in Chicago’s Lincoln Park neighborhood. The 49-unit apartment building traded for $17.4 million. Interra’s Colin O’Malley represented the confidential seller of the property as well as the buyer, Horizon Realty Group. The building was 98 percent occupied at the time of sale. The asset has not traded for more than 30 years. Built in 1915, the courtyard building features seven studio, seven one-bedroom, 31 two-bedroom and three three-bedroom units as well as a single four-bedroom apartment. Amenities include a laundry room, a bike storage room and a fitness facility. Recent renovations include modernization of some residences with in-unit laundry. Horizon Realty Group plans to make additional improvements to both units and common areas.
The property, built in 1915, at 506 W. Deming Place in Chicago has sold for $17.4 million. Horizon Realty Group was the buyer.
Interra Realty Brokers $17 Million Sale of Apartment Building in Chicago’s Lincoln Park Neighborhood
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