JDL Development Acquires Multifamily Asset From Atlantic Residential For $93.3 Million In Chicago

The Parker is a 29-story multifamily apartment tower located at 730 West Couch Place in Chicago's Fulton Market district. The property was sold for $93,300,000 and consists of 227 units, with a price per unit of $411,013.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $93,300,000
• Address: 730 West Couch Place
• Market: Chicago
• Units: 227
• Price Per Unit: $411,013
• Buyer: JDL Development
• Seller: Atlantic Residential
• Brokers: Colleen Watson, Jennifer Hull, Kevin Girard, Mark Stern & Zachary Kaufman - JLL
• Lender: Northwestern MutualLife
• Mortgage Brokers: Danny Kaufman, Mary Dooley, Matthew Schoenfeldt, Medina Spiodic, Rebecca Brielmaier & Yougsoo Yang - JLL

JLL Capital Markets facilitated the sale and acquisition financing, involving institutional investors advised by J.P. Morgan Asset Management as the seller. JDL Development acquired the property and secured a five-year fixed-rate acquisition loan through Northwestern Mutual Life.