November 30, 2020
Interra Realty recently brokered the $1.07-million sale of 4040 S. Prairie Ave., an eight-unit apartment building in Bronzeville on Chicago’s South Side. The price per unit was $134,375.
Associate Max Grossman and managing partners Lucas Fryman and Ted Stratman represented the seller, Chicago-based The Wolcott Group LLC. Grossman also represented the undisclosed buyer.
“Bronzeville has been very hot, with lots of new construction and mid-six-figure single-family home sales,” said Grossman. “When COVID hit in March, the original buyer walked away, but we were able to re-engage a group that expressed interest earlier in the year and, ultimately, close the deal. In the end, the seller got a good price, and the buyer got an attractive newer building with large apartments in a booming neighborhood.”
Built in 2007, 4040 S. Prairie includes four two-bedroom and four three-bedroom duplex units. The apartments were 75% occupied at the time of sale.
For comments, questions or concerns, please contact Paul Bubny