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Chicago & Midwest  + North Side  + Student Housing  |  August 11, 2023
Jasmine Kilman
By: Jasmine Kilman

Loyola University Buys $35M Apartments Near Campus

Loyola University Chicago has purchased a $35 million apartment building at the south end of its lakefront campus.

The college bought the seven-story Arcade Residences building at Sheridan and Broadway from Borecki Real Estate, reported Crain’s Chicago Business. Located at 1135 W. Sheridan Road, the 58-unit apartment building is on the border of the Edgewater and Rogers Park neighborhoods and adjacent to the Loyola campus.

Loyola bought the property from its developer, a venture of Northbrook-based Borekci Real Estate, which completed the property in 2019. Real estate services firm Walker & Dunlop brokered the sale.

According to Crain’s, a spokesman said in a statement that the university “continually evaluates its real estate holdings and strategic opportunities surrounding our campuses” and that the school, for now, plans to maintain the Arcade Residences as an apartment building rather than converting it into housing exclusively for its students.

Read More News Stories About: Walker & Dunlop
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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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