CHICAGO, IL - Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it brokered the $10.8 million sale of a seven-building multifamily portfolio in Chicago’s West Ridge neighborhood. The garden-style buildings include 94 units, equating to $114,894 per unit.
Interra Senior Managing Partner Joe Smazal represented the confidential local buyer in the transaction as well as the seller, a West Coast-based private investor. As part of the transaction, the buyer assumed the CMBS loan from the seller.
“With strong demand for workforce housing on Chicago’s North Side, there has been sustained interest in well-located middle-market properties,” said Smazal. “Closing at 99% of list price after being on the market for less than a week, this deal reinforces investor confidence in this submarket and this asset class.”
Located at 6705-37 N. California Ave., the buildings include 38 studios, 53 one-bedroom units and three two-bedroom units. Constructed in 1961, the properties provide the buyer with a value-add opportunity through modernization of units and operational enhancements.
Multifamily sales on Chicago’s North Side have been steady during the first half of 2025. With this transaction, Interra has brokered nearly $50 million in deals in the area. These include the $9.625 million sale of 6930 N. Greenview Ave., the $3.45 million sale of 6405 N. Wayne Ave., the $5.88 million sale of 6642-6652 N. Clark St., the $3.75 million sale of 4901 N. Christiana Ave. and the $16.1 million sale of 7405, 7415 and 7416 N. Damen Ave.
The properties at 6705-37 N. California are located close to multiple dining, shopping and entertainment options along Devon Avenue.
About Interra Realty: Founded in 2010, Interra Realty is a Chicago-based commercial real estate services firm that delivers integrated, tailored solutions through its boutique, client-focused approach and team of experienced professionals. Since its inception, the firm has closed thousands of transactions valued in excess of $2 billion spanning the multifamily, office and retail sectors, as well as loan sales. Interra’s clients range from private investors and high-net-worth individuals to large financial institutions, private equity groups and hedge funds. For more information, visit www.interrarealty.com