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Drew Breneman Of Breneman Capital Acquires 47-Unit Multifamily In Chicago For $17.9M

Property Image
SOLD
$17,900,000
Drew Breneman
JR

Illinois

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MultiFamily
Sold 12/12/2023
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Property Image
SOLD

Drew Breneman Of Breneman Capital Acquires 47-Unit Multifamily In Chicago For $17.9M

33 South Ashland Avenue

See Similar Deals
MultiFamily
Sold 12/12/2023
Drew Breneman
JR
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale

Jerry Reinsdorf, owner of the Chicago Bulls and White Sox, has sold a 47-unit apartment complex located at 33 South Ashland Avenue in Chicago's West Loop. The property was acquired by investor Drew Breneman's firm, Breneman Capital, for a total of $17.9 million. This transaction reflects the increasing housing demand in the area.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $17,900,000
  • Address: 33 South Ashland Avenue
  • Market: Chicago
  • Buyer: Drew Breneman - Breneman Capital
  • Seller: Michigan Avenue Real Estate Group - Jerry Reinsdorf
  • Units: 47
  • Price per Unit: $380,851

Jerry Reinsdorf, a prominent figure in the sports industry as the owner of the Chicago Bulls and White Sox, sold the 47-unit apartment complex to Drew Breneman's Breneman Capital. This deal exemplifies the growing demand for housing in the West Loop area of Chicago.

Players

Drew Breneman
Drew Breneman
7 deals$68.7M volume
BUYER
JR
Jerry Reinsdorf
3 deals$53.6M volume
SELLER

Details

SOLD
IMAGE: Jerry Reinsdorf & Drew Breneman DATE: 12/12/2023 ADDRESS: 33 South Ashland Avenue MARKET: Chicago ASSET TYPE: Multifamily BUYER: Drew Breneman (@DrewBreneman) - Breneman Capital (@BrenemanCapital) SELLER: Michigan Avenue Real Estate Group - Jerry Reinsdorf SALE PRICE: $17,900,000 UNITS: 47 ~ PPU: $380,851 NOTE: Jerry Reinsdorf, owner of the Chicago Bulls and White Sox, is selling a 47-unit apartment complex at 33 South Ashland Avenue in the West Loop. Investor Drew Breneman's firm acquired the property for $17.9 million, reflecting the area's increasing housing demand.

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