Dreyfuss Management Acquires 102-Unit Multifamily Property In Chicago For $21 Million

CA Ventures has sold its 26-story, 102-unit multifamily property located at 8 East Huron Street in Chicago. The property was purchased by an affiliate of Dreyfuss Management for a total of $21 million. The sale price translates to an average price per unit of $205,882.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $21,000,000
• Address: 8 East Huron Street, Chicago
• Market: Chicago
• Units: 102
• Purchase Price per Unit: $205,882

The buyers of the property, JR Schruble and Mark Pacious, represent Dreyfuss Management, while the sellers are John Diedrich and Tom Scott from CA Ventures. In addition to the sale, the property's debt of $41 million was also transferred to the buyers.

This transaction aligns with CA Ventures' strategic shift towards opportunistic real estate acquisitions amidst legal challenges and industry changes.