Greg Mutz Of AMLI Residential Acquires 275-Unit Milieu Apartment Tower In Chicago For $135M

The Milieu apartment tower, located at 205 South Peoria Street in Chicago's West Loop, comprises 275 units and was sold for $135,000,000, resulting in a price per unit of approximately $490,909. Constructed in 2019, this multifamily asset is currently 94% occupied and was marketed by JLL, reflecting a strong demand in the area amidst limited new downtown supply and notable rent increases for Class A properties.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $135,000,000
• Units: 275
• Price Per Unit: $490,909
• Buyer: Greg Mutz - AMLI Residential
• Seller: Pacific Life Insurance Company
• Brokers: Mark Stern, Kevin Girard & Zachary Kaufman - JLL

Chicago-based AMLI Residential, represented by Greg Mutz, executed the purchase from Pacific Life Insurance Company. The involvement of JLL, with brokers Mark Stern, Kevin Girard, and Zachary Kaufman, facilitated the transaction, contributing to it being one of the largest apartment sales in Chicago for the year.