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3427 North Ashland Avenue

Updated Oct 22, 2025

Ben Frazer Of Highland Partners And Eric Londa Of LRE Management Acquire Chicago Multifamily For $103M
SOLDMultiFamily

Ben Frazer Of Highland Partners And Eric Londa Of LRE Management Acquire Chicago Multifamily For $103M

3427 North Ashland Avenue & 1050 West Monroe Street

$103,000,000

Units

215

Asset Type

MultiFamily

Closing

Oct 22, 2025

About this deal

AI

The property asset involved in this transaction is a multi-family development located at 3427-3458 North Ashland Avenue & 1050-1060 West Monroe Street in the Chicago market. The sale was finalized for a total price of $103,000,000, encompassing 215 units, leading to a price per unit of $479,070.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $103,000,000
  • Units: 215
  • Price Per Unit: $479,070
  • Buyer: Ben Frazer - Highland Partners; Eric Londa - LRE Management
  • Seller: Matt Katsaros - Wildwood Investments; Michael Episcope & David Scherer - Origin Investments

In this transaction, Highland Partners, represented by Ben Frazer, acquired the property from Wildwood Investments, represented by Matt Katsaros, along with Michael Episcope and David Scherer of Origin Investments. Additionally, LRE Management, represented by Eric Londa, is noted to have separately acquired the Monroe Aberdeen property, demonstrating the active involvement of these key players in Chicago's multifamily market.

On the Map

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$103,000,000

MultiFamily

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Players

Ben Frazer

Highland Partners

Broker

$245.7M

vol

3 deals

Broker
Origin Investments
Origin InvestmentsSeller
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Chicago MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $479.1K per unit across 215 units on a published $103M (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.15%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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