June 17, 2020
Interra Realty brokered the $2.27-million sale of 6126-28 S. Woodlawn Ave., a 35-unit apartment building near the University of Chicago Law School in the South Side’s Woodlawn neighborhood. The price per unit was $65,000.
The undisclosed seller was represented by Interra Realty’s Jon Morgan and David Goss, co-founders and managing principals, plus Lucas Fryman and Ted Stratman, managing partners, and Jeremy Morton, director.
The private buyer, who intends to gradually update units as they turn over, was represented by senior managing partner Joe Smazal. Interra was able to attract multiple written offers and shepherd the deal to closing amid the COVID-19 pandemic.
“Woodlawn has been very hot for investors and continues to attract interest despite the current health crisis,” said Fryman. The neighborhood benefits from its proximity to the University of Chicago, which has been pushing south in recent years, without the comparatively higher rents of Hyde Park.”
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