Alex Pappas Purchases Multifamily Property At 693 North Peoria Street In Chicago For $4.275M

The property asset involved in this transaction is a newly constructed nine-unit multifamily property located at 693 North Peoria Street in the River West neighborhood of Chicago, IL. The asset was sold for $4,275,000, with a price per unit of $475,000. It encompasses a total square footage of 14,000, resulting in a price per square foot of $305.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,275,000
• Units: 9
• Price Per Unit: $475,000
• Total Square Footage: 14,000
• Price Per Square Foot: $305
• Buyer: Alex Pappas
• Broker: Jordan Multack - Greenstone Partners

The transaction was facilitated by Senior Director Jordan Multack, who represented the seller and successfully sourced a repeat, accredited, and local 1031 exchange buyer for the property. The property is strategically located in an area that provides residents with access to various amenities, including restaurants, grocery stores, boutique retailers, and fitness studios within the vibrant Fulton Market district.