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CIM, Golub & Company JV Acquire 30-Story MF on Chicago’s Gold Coast
Los Angeles-based CIM Group acquired Chestnut Place, a 30-story, 280-unit apartment building with ground floor retail on Chicago’s Gold Coast, in joint venture with Golub & Company. The property sellers were a JV partnership between USAA Real Estate and another Golub & Company entity. The sales price was undisclosed.
Built in 1982, the property at 8 W. Chestnut St. has views of Lake Michigan to the east and Washington Square Park to the west, and underwent a recent renovation, which included a new lobby and entrance on Chestnut Street and updated amenities. Nearly half of the units have been upgraded, and the new ownership will undertake an enhanced unit renovation program throughout the building.
Golub & Company’s Michael Newman says, “The planned renovations will build on the transformation that was already begun, and continue to elevate all the residences to meet the needs of today’s residents.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


