RPM Living Investments Purchases One Six Six Multifamily Tower In Chicago For $99M

The multifamily asset involved in this transaction is a 223-unit apartment tower located at 166 North Aberdeen Street in Chicago, IL. The property, known as One Six Six, was completed in 2023 and was 95% leased at the time of sale. It was sold for $99 million, resulting in a price per unit of approximately $443,946.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $99,000,000
• Units: 223
• Price Per Unit: $443,946
• Buyer: Jason Berkowitz - RPM Living Investments
• Seller: Bob Faith - Greystar
• Broker Representatives: Mark Stern, Kevin Girard & Zachary Kaufman - JLL

This transaction highlights the active involvement of RPM Living in the Chicago-area multifamily market as they continue their acquisition efforts. The seller, Greystar, has successfully executed the sale of their property just below the asking price of $100 million, reflecting the current dynamics in the real estate market.