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
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