BJB Properties Acquires 425-Unit Multifamily In Chicago For $67.2M

The multifamily property located at 4300 West Lake Avenue in Chicago has been sold in a recent transaction. The sale was completed on December 8, 2022, with a sale price of $67,200,000. The property consists of 425 units, resulting in a per-unit price of approximately $158,118.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $67,200,000
• Address: 4300 West Lake Avenue, Chicago
• Market: Chicago
• Buyer: BJB Properties
• Seller: Fortress Investment Group - Wesley R. Edens
• Units: 425
• Price Per Unit: $158,118

BJB Properties acquired the property from Fortress Investment Group, with Wesley R. Edens acting as the representative for Fortress Investment Group in the deal. The transaction highlights the active real estate market in Chicago and the continued interest in multifamily assets.