Drew Breneman's Breneman Capital Acquires Multifamily Property On South Laflin St, Chicago For $18.5M

Breneman Capital has acquired the Adams Laflin Place apartments located at 128 South Laflin Street in Chicago's West Loop for $18.5 million. The multifamily property consists of 52 units, resulting in a per unit price of $355,769.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $18,500,000
• Address: 128 South Laflin Street, Chicago
• Market: Chicago

This purchase follows Breneman Capital's recent acquisition of the Ashland Place apartments. The Chicago-based investor has plans to target additional neighborhoods like Lincoln Park and Wicker Park in 2024. Their goal is to acquire $80 million worth of properties across various markets.

Drew Breneman of Breneman Capital, along with Steve Horvath and Marc Bombicino of CRE Advising, represented the buyer in the transaction. The seller, Jerry Reinsdorf, was represented by Al Lieberman and Chris Draper of B. Riley Real Estate.