JAB Real Estate Purchases 50-Unit Multifamily Asset In Chicago For $14 Million

The property asset involved in this transaction is a 50-unit multifamily apartment building located at 520 West Stratford Place in Chicago. The sale price for the asset was $14,000,000, which translates to a price per unit of $280,000. The building, constructed in 1927, features a courtyard design and has not been traded in the last 20 years. It includes a variety of unit types ranging from studios to four-bedroom apartments, some with renovated interiors, and an onsite fitness center.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $14,000,000
• Units: 50
• Price Per Unit: $280,000
• Address: 520 West Stratford Place
• Market: Chicago
• Broker: Joe Smazal - Interra Realty
• Buyer: JAB Real Estate

Joe Smazal from Interra Realty represented the buyer, JAB Real Estate, in this transaction, while the seller's identity remains confidential. This transaction highlights a significant move for JAB Real Estate as they acquire their first property in 20 years, reflecting a strategic investment in the Lakeview area of Chicago.