Jeremy Klemanski Of Alpharus Health Acquires Office At 315-317 North Racine Ave For $27.5M
315 North Racine Avenue
$27,500,000
$289/SF
Building Size
95,000 SF
Asset Type
Office
Closing
Sep 1, 2026
About this deal
AI
This transaction involves the sale of a 95,000-square-foot office asset located at 315-317 North Racine Avenue in Chicago, IL. The property was sold for $27,500,000, which equates to a price per square foot of $289, reflecting a significant increase from its previous purchase price of $2.8 million in 2006.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $27,500,000
- Buyer: Jeremy Klemanski - Alpharus Health
- Seller: Joseph Panfil - Aberdeen Development
- Broker: Larry Goldwasser - CBRE
- Square Footage: 95,000
- Price per Square Foot: $289
Jeremy Klemanski represented Alpharus Health in acquiring the property from Joseph Panfil, who represented Aberdeen Development in the sale. This marks Aberdeen's first property sale in over a decade as the firm aims to shift focus towards a new 500,000-square-foot mixed-use project at 2101 West Pershing Road.
Players
Waterford Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.58%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93