Matthew Rosenthal, Eric Silverman Of Eastham Capital And Kurt Bender Sell 84-Unit Multifamily In Chicago Ridge For $10M

The property asset involved in this transaction is an 84-unit multifamily property located at 10370 South Ridgeland Avenue in Chicago Ridge. The transaction was valued at $10,000,000, resulting in a price per unit (PPU) of $119,048. The property was reported to be 95% leased at the time of the sale, indicating strong occupancy rates, with a notable year-over-year rent increase of 9.7%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $10,000,000
• Units: 84
• Price Per Unit: $119,048
• Seller: Matthew Rosenthal & Eric Silverman - Eastham Capital; Kurt Bender - Bender Cos
• Market: Chicago Ridge
• Leasing Status: 95% leased
• Year-over-Year Rent Increase: 9.7%

The key individuals involved in this transaction include Matthew Rosenthal and Eric Silverman from Eastham Capital, along with Kurt Bender from Bender Cos. Together, they successfully executed the sale of the Ridgeland Station after acquiring the property in 2019, demonstrating a strategic partnership in managing multifamily assets.