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

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.