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420 West Belmont Avenue

Updated Dec 16, 2025

Jeffrey Elowe Of Laramar Group Purchases Wave Lakeview Apartments From Saul Kuperwasser & Yitzy Klor For $57 Million
SOLDMultiFamily

Jeffrey Elowe Of Laramar Group Purchases Wave Lakeview Apartments From Saul Kuperwasser & Yitzy Klor For $57 Million

420 West Belmont Avenue

$57,000,000

Units

207

Asset Type

MultiFamily

Closing

Dec 15, 2025

About this deal

AI

The property asset involved in the transaction is a 207-unit multifamily apartment building located at 420 West Belmont Avenue in Chicago. The sale was executed for $57 million, resulting in a price per unit of $275,362.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $57,000,000
  • Buyer: Jeffrey Elowe - Laramar Group
  • Seller: Saul Kuperwasser & Yitzy Klor - Strategic Properties of North America
  • Units: 207
  • PPU: $275,362

This transaction illustrates the representation of the buyer by Jeffrey Elowe of Laramar Group, while the sellers, Saul Kuperwasser and Yitzy Klor, are affiliated with Strategic Properties of North America. The sale reflects the strategic challenges faced by SPNA in its condo deconversion efforts, emphasizing issues around income generation and prior unsuccessful deals.

On the Map

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$57,000,000

MultiFamily

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Players

Jeffrey Elowe

Laramar Group

Buyer

$261.5M

vol

4 deals

Buyer
SA
Strategic Properties of North AmericaSeller
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Chicago MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $275.4K per unit across 207 units on a published $57M (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.28%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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