Draper and Kramer, Intercontinental Acquire 298-Unit Apartment Building in Chicago
CHICAGO — Draper and Kramer Inc. and Intercontinental Real Estate Corp. have acquired Burnham Pointe, a 28-story, 298-unit apartment building in Chicago’s Printers Row neighborhood. The purchase price was not disclosed. Located at 730 S. Clark St., the property features a mix of one- and two-bedroom units as well as 14,391 square feet of ground-level retail space. The property is currently 96 percent occupied. The buyers plan to renovate the indoor aquatic area, fitness center, business center, club lounge and pet run. Draper and Kramer will manage the apartment building. Sean Fogarty, Marty O’Connell, Wick Kirby and Kevin Girard of HFF brokered the sale. Robert Goldman and Stacy Osmond, lawyers with DLA Piper, advised the buyers on the acquisition. Crescent Heights was the seller.