Interra Realty has brokered the $2.58 million sale of a 31-unit apartment building at 6949-6959 S. Merrill Avenue in Chicago’s South Shore neighborhood. The transaction equated to $83,225 per unit.
Interra Director Max Grossman represented the local confidential buyer. Senior Managing Partner Joe Smazal and Managing Partner Lucas Fryman represented the seller, a private investor based on the East Coast. The property was approximately 90 percent occupied at the time of sale.
The courtyard building includes a mix of studio to three-bedroom apartments, some of which have been updated with new kitchens and baths. The property is a few blocks south of Jackson Park, home to the Museum of Science and Industry and the under-construction Obama Presidential Center.
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