April 26, 2019
Interra Realty has brokered the $7.8-million sale of a 14-building, 289-unit portfolio of affordable apartments located on the city’s West and South sides. The buyer, Chicago-based real estate investment firm Villa Capital Partners, purchased the portfolio from nonprofit NHS Redevelopment and plans to spend about $3 million to renovate the properties.
“This is one of the largest West Side transactions of its kind in recent years, and reflects the broader push for the preservation and rehabilitation of affordable units throughout the city,” said David Goss of Interra. Goss brokered the deal with colleagues Jon Morgan and Lucas Fryman.
The buildings are located in the Austin, East Garfield Park, West Humboldt Park and North Lawndale neighborhoods on the West Side, and in Roseland on the South Side. All but one of the properties is vintage; the Roseland community is about 20-years-old.
Connect Chicago is coming up on May 14! Click here to register for the event.
For comments, questions or concerns, please contact Paul Bubny