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

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.