10/12/2007

HFF Chicago arranges $210 million sale of Chicago multi-family

by

The Streeter

The State Teachers Retirement System of Ohio has purchased the Streeter, a 481-unit multi-family property in Chicago for $210 million from Golub & Co.

Matthew Lawton of Holliday Fenoglio Fowler represented Golub & Co. STRS Ohio represented itself.

Built in 2006 on 1.12 acres, the 48-story building is located at 345 E. Ohio St. It was 92 percent occupied at the time of sale and sold for $436,590 per unit. The complex contains 60 studios, 82 efficiencies, 184 one-bedroom, 138 two-bedroom and 17 three-bedroom units.

Chicago-based Golub & Company is a commercial and residential real estate development and management firm.

Lawton is a senior managing director at HFF Chicago and heads the company's National Multi-Family Group. He has 24 years experience in commercial real estate and specializes in the capitalization of investment real estate and multi-market portfolios.

Address: 345 Ohio St., Chicago, Ill.

Size: 496,064 square feet

Built: 2006

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Filed Under: Multi-Family

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