Morguard Acquires Multifamily Property In Chicago For $133M

A multifamily property located at 353 North Desplaines Street in Chicago was recently sold for $133,000,000. The sale, which took place on 08/10/2022, involved a total of 350 units, resulting in a per unit price of $380,000. The property was acquired by Morguard, represented by John Talano, while Crescent Heights acted as the seller.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $133,000,000
• Units: 350
• Price Per Unit: $380,000
• Buyer: Morguard - John Talano
• Seller: Crescent Heights
• Date: 08/10/2022
• Address: 353 North Desplaines Street
• Market: Chicago

Morguard, represented by John Talano, was the buyer in this transaction. Crescent Heights, on the other hand, acted as the seller. The sale marked a significant transaction in the Chicago multifamily market, with 350 units being exchanged at a total price of $133,000,000.