Updated Sep 11, 2026
Todd Bancroft Of Draper & Kramer Acquires Multifamily Asset From Jason Koehn For $126M
1500 Sherman Avenue
$126,000,000
Units
268
Asset Type
MultiFamily
Closing
Sep 10, 2026
About this deal
AI
The transaction involved a multifamily asset located at 1500 Sherman Avenue in Evanston, IL. The sale was completed at a price of $126,000,000 for 268 units, resulting in a price per unit (PPU) of $470,149.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $126,000,000
- Units: 268
- Buyer: Todd Bancroft - Draper & Kramer
- Seller: Jason Koehn - Albion Residential
Suburban Chicago’s multifamily market has shown significant activity with recent closed transactions and pending deals amounting to $335 million. Notable transactions include Morningside Group’s $91.3 million sale in Elmhurst and Axiom Properties’ $67 million in apartment sales.
Players
Avenue MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93