Rob Speyer Of Tishman Speyer Acquires 191-Unit Multifamily Complex In Chicago For $113.8M

Tishman Speyer has acquired a luxury apartment complex located at 930 West Altgeld Street in Chicago, which comprises 191 units. The asset was purchased for a total transaction value of $113.8 million, translating to approximately $596,000 per unit. This acquisition marks a significant event in the Chicago real estate market as one of the first major apartment sales of 2025, reflective of confidence in a market characterized by rising rents and constrained new construction.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $113,800,000
• Units: 191
• Price Per Unit: $595,812
• Buyer: Rob Speyer - Tishman Speyer
• Seller: Warren Baker - Baker Development
• Brokerage Firm: JLL
• Broker Representatives: Kevin Girard, Mark Stern & Zachary Kaufman

The transaction showcases the involvement of key industry players, including Rob Speyer representing Tishman Speyer as the buyer and Warren Baker representing Baker Development as the seller. The brokerage team from JLL, comprising Kevin Girard, Mark Stern, and Zachary Kaufman, facilitated the transaction, contributing their expertise to ensure a successful deal.