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1100 North Dearborn Street

Jeffrey Malk And Jimmy Oppenheimer Acquire 247-Unit Multifamily At 1100 N. Dearborn St. For $43M
SOLDMultiFamily

Jeffrey Malk And Jimmy Oppenheimer Acquire 247-Unit Multifamily At 1100 N. Dearborn St. For $43M

1100 North Dearborn Street

$43,000,000

Building Size

Asset Type

MultiFamily

Closing

Jul 17, 2025

AI

The transaction involved a vintage apartment building located at 1100 North Dearborn Street in Chicago's Gold Coast, which features 247 units and was sold for $43 million. This asset represents a multifamily type property and has not changed ownership in over 50 years.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $43,000,000
  • Units: 247
  • Price Per Unit: $174,089
  • Buyer: Jeffrey Malk - CRM Properties Group; Jimmy Oppenheimer - New City Property Management
  • Seller: Berger Realty Group
  • Brokers: John Jaeger, Justin Puppi & Jason Zyck - CBRE

This significant deal was brokered by John Jaeger, Justin Puppi, and Jason Zyck from CBRE, who represented Berger Realty Group. The property was marketed as a value-add opportunity amid the low rental supply in downtown Chicago.

Players

John Jaeger

CBRE

Broker

$2.1B

vol

29 deals

Broker
CBRE
CBREBrokerage

Chicago MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.37%

Cash-on-Cash

-0.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93