facebook

traded

+ Submit
Home

/

Deals

/

Illinois

/

Multifamily

/

Sale

/

211 West Scott Street

Rachel Kramer Of Exposition Residential Acquires Multifamily Property In Chicago For $32 Million
SOLDMultiFamily

Rachel Kramer Of Exposition Residential Acquires Multifamily Property In Chicago For $32 Million

211 West Scott Street

$32,000,000

Building Size

Asset Type

MultiFamily

Closing

Jun 13, 2025

AI

The 71-unit Scott Residences located at 211 West Scott Street in Chicago’s Near North Side was acquired for $32,000,000. The multifamily asset, built in 2014, includes 9,230 sq. ft. of retail space and is currently 97% leased, reflecting the growing interest of out-of-state investors amidst rising rents and a supply shortage in the Chicago market.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $32,000,000
  • Units: 71
  • Price Per Unit: $450,704
  • Buyer: Rachel Kramer - Exposition Residential
  • Seller: James D. Letchinger - JDL Development; Michael Marchese - Harlem Irving Companies
  • Brokers: Kevin Girard, Mark Stern & Zachary Kaufman - JLL
  • Date of Transaction: 06/13/2025

The acquisition by Houston-based Exposition Residential marks its third multifamily investment in Chicago since late 2023, indicating a strategic focus on the city's multifamily sector as market dynamics evolve.

Players

Kevin Girard

JLL

Broker

$1.6B

vol

19 deals

Broker
JLL
JLLBrokerage

Chicago MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.50%

Cash-on-Cash

-0.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93