Annenberg Investments Ltd Acquires 296 Unit Multifamily Property In Chicago's Lakeview Neighborhood

3121 North Sheridan Road is a 296-unit multifamily property located in the Lakeview neighborhood of Chicago. Constructed in 1950, the asset is positioned near Lake Michigan and is set to undergo comprehensive repositioning that will include upgraded amenities and modernized units under the new ownership.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: Undisclosed
• Address: 3121 North Sheridan Road
• Market: Chicago
• Units: 296
• Buyer: Annenberg Investments, Ltd.
• Brokers: Mike Garbers, Cody Tremper, Dave Fasano, Ross Sanders, Pete Evans & Richard Evans - Berkadia

This deal was brokered by Berkadia and involved a publicly traded corporation selling the property to a local investment group led by Annenberg Investments, Ltd. The sale signifies a strategic move by the new owners to enhance the property and cater to updated market demands.