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Greenstone Partners Brokers $26M Chicago Apartment Sale
Greenstone Partners broked the sale of the Canterbury Court Apartments located at 1220 N. State Pkwy in the Gold Coast neighborhood of Chicago, Illinois, for $25.7 million.
The 176-unit multifamily property also features the famed Zebra Lounge on the ground floor. Greenstone Partners’ Senior Director Jordan Multack and Managing Partner Danny Spitz represented the seller, with additional representation from Marcus & Millichap’s Nicholas Kanich. Multack procured the buyer, Becovic Holdings Corporation.
“There are few opportunities like this one to acquire a vintage, family-owned, value-add multifamily property in a desirable market like the Gold Coast,” said Multack. Canterbury Court Apartments includes 142 studio units, 26 one-bedroom, one-bath units, two two-bedroom, two-bath apartments, and six additional units previously used by the former owner.
“We recognize the tremendous value and potential of this Gold Coast landmark. Our revitalization plan will enhance the living experience for all residents while respecting the building’s history and ensuring its continued affordability,” said Isa Becovic, President Becovic Holdings Corporation.
