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315 North Racine Avenue

Updated Sep 1, 2026

Bilt advertisement
Jeremy Klemanski Of Alpharus Health Acquires Office At 315-317 North Racine Ave For $27.5M
SOLDOffice

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:

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

Larry Goldwasser

CBRE

Broker

$137.9M

vol

6 deals

Broker
Jeremy Klemanski

Jeremy Klemanski

Alpharus Health

Buyer

$27.5M

vol

1 deal

Buyer

Joseph Panfil

Aberdeen Development

Seller

$27.5M

vol

1 deal

Seller

Waterford Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $289 per square foot on a published $27.5M for 95,000 square feet (2026).

Visit Larry Goldwasser to view all their deals.

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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

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