Preservation Of Affordable Housing Acquires 240-Unit Multifamily In Chicago For $29.5M

The multifamily property located at 6430 S. Stony Island in Chicago was recently sold in a closed transaction. The property consists of 240 units and was sold for a total price of $29,500,000, resulting in an average price per unit of $122,917. The sale took place on July 1, 2021, and the buyer was Preservation of Affordable Housing (POAH), represented by Aaron Gornstein & Andrew Spofford. The seller in the transaction was PNC Bank.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $29,500,000
• Address: 6430 S. Stony Island, Chicago
• Units: 240
• Price per Unit: $122,917

The buyer in the transaction, Preservation of Affordable Housing (POAH), was represented by Aaron Gornstein & Andrew Spofford. On the other hand, PNC Bank acted as the seller in the deal.