Aris Sulejmani And Mexhit Sulejmani Purchase 171-Unit Multifamily Asset In Chicago For $34M

The multifamily asset involved in this transaction is a 171-unit apartment tower located at 422-424 West Melrose Street in Chicago's Lakeview neighborhood. It was sold for $34 million, with a price per unit of $198,830.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $34,000,000
• Units: 171
• Price Per Unit: $198,830
• Buyer: Aris Sulejmani & Mexhit Sulejmani
• Seller: Danny Wirtz - Wirtz Corporation
• Market: Chicago, IL

The transaction reflects sustained investor demand for multifamily assets in the Chicago market, driven by rising rents and limited new apartment supply. The buyers, Aris and Mexhit Sulejmani, are based in Glenview and have made this investment as part of their portfolio expansion in the area.