Updated Oct 19, 2026
Essex Realty Group Acquires Multifamily Property In Chicago For $42M
2211 North Milwaukee Avenue, Chicago, Illinois 60647, United States
$42,000,000
$350/SF
Building Size
119,875 SF
Asset Type
MultiFamily
Closing
Jun 7, 2022
About this deal
AI
A multifamily property located at 2211 N Milwaukee Ave in Chicago has been sold for a total of $42,000,000. The property consists of 140 units, with a price per unit of $300,000. The sale was facilitated by Berkadia.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $42,000,000
- Date: 06/08/2022
- Address: 2211 N Milwaukee Ave, Chicago
- Seller: Property Markets Group - Kevin P. Maloney
- Buyer: Essex Realty Group - Doug Imber
- Lender: JPMorgan Chase
The buyer of the property is represented by Doug Imber from Essex Realty Group, while the seller is represented by Kevin P. Maloney from Property Markets Group. JPMorgan Chase served as the lender for this transaction.
On the Map
$42,000,000
$350/SF
MultiFamily
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Players
Chicago MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93