Golub & Company Buys 293-Unit Century Tower Multifamily In Chicago For $64 Million

A multifamily property located at 182 West Lake Street in the Chicago market was sold for a total of $64,000,000. The asset, known as Century Tower, includes 293 units with a price per unit of $218,430.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $64,000,000
• Buyer: Lee Golub & Michael Newman - Golub & Company
• Seller: Len O’Donnell - Affinius Capital
• Brokers: John Jaeger, Justin Puppi & Jason Zyck - CBRE
• Units: 293
• PPU: $218,430

The transaction involved Golub & Company acquiring Affinius Capital's stake in the property, further consolidating Golub's presence in the downtown apartment market as Affinius Capital exits. The buyout was financed through an agency-backed loan expected to be sold to either Fannie Mae or Freddie Mac.