Interra Brokers Sale of Trio of Buildings in River Grove
Interra Realty brokered the sale of three multifamily properties all near each other in River Grove, Illinois, a near western suburb of Chicago, to two separate ownership groups.
A two-property, 12-unit portfolio at 8670-8674 W. Grand Ave. closed at $1.72 million, or $143,000 per unit. Completed in 1969, the buildings include ten two-bedroom and two one-bedroom units, and the properties had been under the same ownership for over 20 years.
The third property, an eight-unit building at 8600 W. Grand Ave, sold for $1.075 million, or $134,000 per unit. Built in 1980, the property features four two-bedroom and four one-bedroom units.
Interra Managing Partner Patrick Kennelly, Managing Director Paul Waterloo and Associate Nathan Zito represented the seller of 8670-8674 W. Grand. The buyer was represented by Ralph Szypcio of Coldwell Banker. The same Interra team of Kennelly, Waterloo and Zito represented the seller and buyer in the 8600 W. Grand transaction. Both buyers are local operators who plan to self-manage the properties.
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