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Chicago & Midwest  + Apartments  | 

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.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition

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