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Bronzeville’s Prairie Shores Complex Trades to Golub/Farpoint JV
Golub & Company and Farpoint Development closed on the acquisition of Prairie Shores, a 1,675-unit workforce housing apartment community in Bronzeville that’s changing hands for the first time since its development 60 years ago. The Goldman Sachs Urban Investment Group is the deal’s largest equity investor.
“The property’s close proximity to Chicago’s CBD and increasing number of new residential, retail and entertainment offerings in the adjacent South Loop area made Prairie Shores uniquely attractive,” said Golub CEO Michael Newman.
Farpoint is also leading the team developing the former Michael Reese Hospital site, which neighbors Prairie Shores, into the mixed-use Bronzeville Lakefront. “The Bronzveville community is already one of Chicago’s proudest, and its future is equally exciting,” said Farpoint principal Scott Goodman.
Golub’s Collin McKenna and Michael Goldman and Farpoint’s Rami Peltz negotiated the transaction. The seller, Draper and Kramer, was represented by HFF, now part of JLL. Terms weren’t disclosed.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition

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