Pontegadea - Amancio Ortega Acquires 492-Unit MultiFamily Building In Chicago For $232M

The multi-family property located at 727 West Madison Street in Chicago has been sold in a transaction worth $232,000,000. The property consists of 492 units, with a per-unit price of $471,545. The sale was facilitated by brokers Gary Phillips, Daniel Parker, and Bryan Rosenberg from Eastdil Secured.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $232,000,000
• Units: 492
• Price Per Unit (PPU): $471,545
• Address: 727 West Madison Street, Chicago

Pontegadea, represented by Amancio Ortega, acquired the property from Ares Management, led by Michael Arougheti, and F&F Realty. The deal marks a significant transaction in the Chicago market.