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Huge South Side Apartment Complex Hitting the Market
The massive Prairie Shores apartment complex has hit the market for just the second time in more than 60 years. Farpoint Development and Golub have hired JLL to sell Prairie Shores, a 1,675-unit apartment complex at 2937 South King Drive, reported Crain’s citing CoStar.
JLL’s Kevin Girard, Mark Stern, and Zach Kaufman are leading the marketing. Located in Chicago’s historic Bronzeville, Prairie Shores spans more than 20 acres with five high-rise buildings.
While an official asking price has not yet been listed, bids could reach the $200 million mark, per the outlet. That would make the deal the second priciest multifamily deal in Chicago in 2023, second only to the recent $232 million sale of the 45-story complex at 727 West Madison Street.
Farpoint is also underway with the adjacent Bronzeville Lakefront project, which is a seven-million-square-foot mixed-use development that will be built on the site of the former Michael Reese Hospital and Medical Center.
