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Old Town Apartments Trade Hands for $88M
JLL has secured the $88.25 million sale of Cobbler Square, a historic 292-unit apartment community located in Chicago’s Old Town neighborhood.
JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Managing Directors Mark Stern and Kevin Girard, Director Zach Kaufman and Senior Analyst Sam Grohe. The buyers were JDL Development, LLC and Centaur Capital Partners.
Cobbler Square is strategically located at 1350 N Wells St., occupying an entire city block in the heart of Old Town. This prime location provides easy access to restaurants, entertainment venues, North Avenue Beach and Lincoln Park.
Originally built in 1889 as the Dr. Scholl’s shoe factory, Cobbler Square was converted to residential use in 1985. The community offers a unique mix of studios, one- and two-bedroom loft-style apartments. The property also features approximately 19,038 square feet of fully leased retail space.
