Illinois

CHICAGO — Tishman Speyer has acquired Union West, a 15-story luxury apartment tower in Chicago’s West Loop neighborhood. The purchase price was roughly $128 million, according to Crain’s Chicago Business. Completed in 2019, Union West features 357 units ranging in size from studios to three bedrooms. A joint venture led by ZOM Living sold the property, which is located at 939 W. Washington Blvd. The building, which is currently 94 percent leased, features amenities such as a fitness center, lounge, entertainment space, an outdoor pool, private work and meeting rooms, a yoga and spin room, pet spa, dog run and onsite boutique grocer West Loop Market. John Jaeger of CBRE represented the seller.

CHICAGO — JLL has brokered the $76 million sale of 3Eleven, a 245-unit apartment community in Chicago’s River North neighborhood. Built in 2018, the property features one-, two- and three-bedroom units. Amenities include a rooftop terrace, pool, lounge areas, a fitness center, yoga studio, chef’s demonstration kitchen and coworking space. Located at 311 W. Illinois St., 3Eleven is situated at the intersection of West Illinois and North Franklin streets. Kevin Girard, Mark Stern and Zach Kaufman of JLL represented the seller, The John Buck Co. and its institutional partner. JLL also procured the buyer, Vista Property. Chris Knight and Mike Brady of JLL originated a $47.7 million Freddie Mac loan on behalf of the buyer.

CHICAGO — Interra Realty has brokered the $2.6 million sale of a 31-unit apartment building in Chicago’s South Shore neighborhood. Located at 6949-6959 S. Merrill Ave., the courtyard property includes a mix of studio to three-bedroom units, some of which have been updated with new kitchens and baths. Two units were reconfigured to include an additional bedroom, which generated additional rent of $300 per month. Max Grossman of Interra represented the local confidential buyer. Joe Smazal and Lucas Fryman of Interra represented the seller, a private investor based on the East Coast. The asset was roughly 90 percent occupied at the time of sale.

CHICAGO — Quantum Real Estate Advisors Inc. has brokered the sale of a 38-unit multifamily property in Chicago for $2.7 million. The courtyard building is located at 4126 W. 24th Place in Little Village. Clay Maxfield of Quantum represented the seller, which had owned the asset for 25 years. The property sold to a local owner with multiple assets in Chicago and the surrounding suburbs.