Jay Lobell Of JSB Capital Group Acquires Lincoln Station Apartments From 7Acre Investments For $65M

The property asset involved in the transaction is a multifamily apartment complex located at 208 North Prairie Road in New Lenox, IL. The property consists of 220 units and was sold for a total price of $65,000,000, resulting in a per unit price of $295,455.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $65,000,000
• Buyer: Jay Lobell - JSB Capital Group
• Seller: Chase Watson & Adam Fletcher - 7Acre Investments
• Units: 220

The key individuals involved in this transaction include Jay Lobell representing JSB Capital Group as the buyer, while Chase Watson and Adam Fletcher represented 7Acre Investments as the sellers. The deal followed a prolonged legal dispute involving developer Richard Gammonley and rescue lender 7 Acre Investments, which had a significant impact on the ownership structure prior to the sale.