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Chicago & Midwest  + South Side  + Apartments  | 

Origin Buys Stabilized Multifamily Build in West Loop

Origin Investments acquired Monroe Aberdeen Place, a 120-unit apartment building in the West Loop, for $65.8 million. The seller and original developer of the property was Michigan Avenue Real Estate Group.

Kiser Group represented Origin Investments in the off-market deal. The property was completed in 2018, and was 99% leased at the time of acquisition.

“Monroe Aberdeen came on line only two years ago, and while it is a stabilized asset, there continues to be great opportunity to maximize net operating income and the value of the property at this popular, high-quality asset,” said Thomas Briney, director at Origin Investments.

He added that the project’s location, the quality of construction and the “unique value creation opportunity” persuaded the Origin team to move forward on the deal, despite the uncertainty surrounding property taxes in Chicago and Cook County.


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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 13-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 15-20 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).

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