A multifamily asset located at 507 Railway Drive in Naperville has been purchased for $109 million. The property comprises 417 units, resulting in a price per unit of $261,391. It is currently 97% occupied with average rents at $2.07 per square foot.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $109,000,000
• Buyer: Ben Friedman - Abacus Capital Group
• Seller: Howard W. Lutnick - Cantor Fitzgerald; Joanna Zabriskie - BH Equities
• Brokers: Chuck Johanns, Liz Gagliardi & Susan Lawson - Newmark
• Units: 417
• Price Per Unit: $261,391
• Region: Naperville

The transaction highlights the involvement of New York-based Abacus Capital Group as the buyer, acquiring the property from a venture that includes Cantor Fitzgerald and BH Equities. This sale marks the highest-priced suburban Chicago apartment sale of 2024.