Vista Property Acquires 245-Unit Mixed-Use Property In Chicago's River North For $76M

The 245-unit 3Eleven community in Chicago was sold for $76 million to Vista Property. The property, located at 311 West Illinois Street in the River North neighborhood, offers a mix of residential and commercial spaces. Completed in 2018, 3Eleven is the first Midwest property to achieve Fitwel and LEED Silver certifications. It features various floorplans and amenities, with convenient access to downtown Chicago.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $76,000,000
• Units: 245
• Price per Unit: $310,204
• Address: 311 West Illinois Street, Chicago
• Market: Chicago

The buyer, Vista Property, was represented by Hymie Mishan. The seller, The John Buck Co., was represented by John A. Buck II. The brokers involved in the deal were Kevin Girard, Mark Stern, and Zachary Kaufman from JLL. The mortgage brokers in the transaction were Christopher Knight and Mike Brady, also from JLL.

It is worth noting that the sale of 3Eleven was financed with a $47.8 million Freddie Mac note.