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Antheus Capital Acquires 275-Unit South Loop Multifamily From Draper & Kramer For $59M

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SOLD
$59,000,000

Illinois

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MultiFamily
Sold 11/22/2023
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Property Image
SOLD

Antheus Capital Acquires 275-Unit South Loop Multifamily From Draper & Kramer For $59M

2111 South Wabash Avenue

See Similar Deals
MultiFamily
Sold 11/22/2023
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

A 24-story, 275-unit apartment building located at 2111 South Wabash Avenue in Chicago's South Loop has been sold for $59 million. The property was acquired by New Jersey-based Antheus Capital, led by Eli Ungar, from Chicago-based Draper & Kramer. This transaction marks the second purchase by Antheus Capital from Draper & Kramer this year. The sale price equates to approximately $218,000 per unit, and the acquisition was financed with a nearly $33 million mortgage from CBRE Capital Markets.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $59,000,000
  • Address: 2111 South Wabash Avenue
  • Market: Chicago
  • Buyer: Antheus Capital - Eli Ungar
  • Seller: Draper & Kramer - Todd Bancroft
  • Lender: CBRE Capital Markets
  • Units: 275
  • Price per Unit: $218,000

The sale of the apartment building was facilitated by Todd Bancroft representing Draper & Kramer and Eli Ungar representing Antheus Capital. CBRE Capital Markets provided the financing for the acquisition.

Players

AC
Antheus Capital
BUYER
TB
Todd Bancroft
6 deals$263.2M volume
SELLER
CBRE
CBRE
LENDER

Details

SOLD
IMAGE: Eli Ungar & Todd Bancroft DATE: 11/22/2023 ADDRESS: 2111 South Wabash Avenue MARKET: Chicago ASSET TYPE: Multifamily BUYER: Antheus Capital - Eli Ungar SELLER: Draper & Kramer (@DraperandKramer) - Todd Bancroft LENDER: CBRE Capital Markets SALE PRICE: $59,000,000 UNITS: 275 ~ PPU: $214,545 NOTE: Chicago-based Draper & Kramer sold a 24-story, 275-unit apartment building in the South Loop to New Jersey-based Antheus Capital for $59 million, marking the second purchase by Antheus from Draper & Kramer this year. Antheus, led by Eli Ungar, paid about $218,000 per unit and financed the acquisition with a nearly $33 million mortgage from CBRE Capital Markets.

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