The SR8 Portfolio, a 200-unit multifamily portfolio located in Kenwood, Chicago, IL, has been sold by ShainRealty Capital. The sale price for this property was $28,500,000, with a price per unit of $142,500. The total square footage of the portfolio is 233,380, resulting in a price per square foot of $122. The portfolio includes properties situated at 5219 S Calumet Ave, 4208, 4213 & 4220 S Michigan, 4716 S MLK, 4611 S Drexel, 4119 S Ellis, and 5001 S Drexel.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $28,500,000
• Units: 200
• Price Per Unit: $142,500
• Square Footage: 233,380
• Price Per Square Foot: $122
• Market: Kenwood, Chicago

The buyer for this transaction was Eagle Infinite Investments, and the seller was ShainRealty Capital, represented by Jonathan Shainberg and Elliot Shainberg. The brokers involved in the sale were Ted Stratman and Lucas Fryman from Interra Realty.

ShainRealty Capital shared a note stating their satisfaction with the successful execution of their value-add business plan for the SR8 Portfolio. They were able to significantly increase rents and net operating income within 24 months. Despite the challenging market conditions, they were able to generate a significant return for their equity partners and passive investors. For more information about this deal or potential future investment opportunities, interested parties can reach out to Jonathan Shainberg and Elliot Shainberg.