James D. Letchinger And Centaur Capital Partners Acquire Cobbler Square Multifamily In Chicago For $88.25M

The transaction involved the acquisition of a multifamily asset located at 1350 North Wells Street in Chicago, comprising 292 units. The property was sold for $88.25 million, equating to a price per unit of $302,226. The asset provides value-add potential through the prospects of interior renovations and future development on adjacent parking areas.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $88,250,000
• Units: 292
• Price Per Unit: $302,226
• Buyer: James D. Letchinger - JDL Development, LLC; John G. Schreiber, Anoop Anekal & Daniel Lo - Centaur Capital Partners
• Brokers: Kevin Girard, Mark Stern, Sam Grohe & Zachary Kaufman - JLL
• Date of Transaction: 03/06/2025

JDL Development and Centaur Capital Partners executed the acquisition of Cobbler Square, with JLL serving as the representative for the seller during the transaction, highlighting the collaborative effort among the involved parties.