Contemporary Concepts & Esteep LLC Acquire Multifamily Building In Chicago For $10.35M

The property involved in this transaction is a 14-unit multifamily building located at 516 West Arlington Place in Chicago. The building was built in 2022 and is fully leased. The sale was completed for a price of $10,350,000, resulting in a price per unit of $739,286. This sale set a neighborhood record and attracted significant investor interest due to limited new supply in the area.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $10,350,000
• Units: 14
• Price Per Unit: $739,286
• Buyer: Contemporary Concepts & Esteep, LLC, 518 Arlington Place LLC
• Seller: Highland Real Estate Partners LLC
• Brokers: Danny Byrne & Justin Ross - CBRE
• Market: Chicago
• Sale Date: 06/03/2025

This transaction was facilitated by brokers Danny Byrne and Justin Ross from CBRE, who were pivotal in securing the deal in just 16 days. The buyer, Contemporary Concepts & Esteep, LLC, along with 518 Arlington Place LLC, acquired the property from Highland Real Estate Partners LLC, marking a successful transaction in a competitive market environment.