The 25-story apartment building, 3Eleven, located in Chicago’s River North neighborhood has been sold for $76 million. The seller was represented by JLL, while the buyer was found by New York-based Vista Property.
Leading the JLL Investment Sales Advisory team were Kevin Girard, Mark Stern and Zach Kaufman. The Debt Advisory team was led by Chris Knight and Mike Brady. Completed in 2018 by Buck Development Company of Chicago with an institutional partner, this high-rise apartment community consists of 245 units. Additionally, Buck is currently selling another property – Mila Chicago at 200 N Michigan Avenue – a towering structure standing at forty-two stories.
“We are delighted to include the well-maintained and strategically-located property of 3Eleven into our expanding portfolio of multifamily investments within Chicago,” stated Hymie Mishan who serves as principal at Vista Property.”We have great confidence in the city’s multifamily market due to its consistent rent growth and strong demand.”
This sale marks yet another successful transaction for John Buck Company without any mentionable involvement from Connect CRE or its affiliates such as Connect LA or Connect Texas.
