Draper And Kramer Acquire Luxury Rental Community: The Chicago Deal Sheet
Draper and Kramer acquired Eleven33, a 12-story, 263-unit luxury rental community at 1133 South Blvd. in Oak Park, for an undisclosed price.
Completed in 2019, the luxury property is currently 95% leased and has averaged 94.4% occupancy since January 2024. Monthly rents start at $1,945, and units measure between 512 SF and 1,500 SF.
"Eleven33 hits the sweet spot for us as an amenity-rich Class A building in a highly walkable area — in this case, one of Chicago’s most popular inner-ring suburbs," Blas Puzon, chief investment officer with Draper and Kramer, said in a press release.
Newmark represented ownership of Eleven33 in the property’s sale. Draper and Kramer did not have broker representation.
PEOPLE
Leopardo Construction added Sean Twomey to the firm as vice president of healthcare. He brings more than two decades of experience in design, construction and program leadership to the company’s growing healthcare team. In his new role, Twomey will oversee the University of Chicago Medicine clinical laboratory project in Washington Park, part of the organization’s multisite expansion.
SALES
An undisclosed investor paid $1M for 6118 N. Rockwell St., a fully renovated property in West Ridge. The units include finishes like Jacuzzi tubs and Maytag stainless steel appliances. Greenstone Partners' Jacob Goldstein represented the seller and buyer in the deal.
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Core Acquisitions scooped up Deerbrook Shopping Center, a Jewel-Osco-anchored property in Deerfield, for $44M. The 429K SF center also features retailers such as Marshalls, Starbucks, Mattress Firm and others. Mid-America Real Estate Corp.'s Rick Drogosz, Joe Girardi and Patrick Corrigan brokered the deal on behalf of the seller, a global investment adviser.
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Marquette Cos. acquired Orion Arlington Lakes, a 198-unit, garden-style apartment development in Arlington Heights, for more than $46M. The company plans to rebrand the community to Avery at Arlington Lakes and launch value-add renovations of its amenities and units. LEM Capital was a capital partner in the acquisition.
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A 1031 exchange buyer purchased a newly constructed, 24-unit apartment building in Lincoln Park for $13.2M. Completed in 2025, the five-story building features a unit mix primarily comprised of two-bed/two-bath and three-bed/two-bath layouts. Kiser Group's Katie LeGrand and Jacob Price represented the seller.
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A private investment group paid $9.1M for a three-building portfolio of former student housing assets in Hyde Park from the Lutheran School of Theology at Chicago. Avison Young represented the seller, with the deal led by James Hanson, Richard Hanson and Judson Martin.
LEASES
Shamrock Trading Corp. signed a 25K SF lease at 151 N. Franklin St., a 35-story building in the central business district. With the lease, the firm is set to establish its presence in Downtown Chicago to complement its location in suburban Lombard. Colliers’ Tom Volini and Sven Sykes brokered the deal.
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Pure Processing signed a 29K SF lease at 2200 Ogden Ave. in Lisle. The move triples the company’s footprint from its previous location in Carol Stream and consolidates its office, light manufacturing, warehouse and showroom operations in one space. NAI Hiffman's Steve Chrastka, Jack Brennan and Connor Dale represented Pure Processing in the deal, while CBRE's Pete Adamo represented landlord Sperry Equities.
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Friedman Properties completed five leases totaling 107K SF at the Reid Murdoch Building in River North. This includes tenants Smartly, Storck USA, The Motion Agency, Theater of the Mind and River Roast. Friedman Properties recently completed a renovation that included a new tenant lounge and a fitness center.
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USG Corp. signed a long-term lease renewal of its 165K SF global headquarters office at 550 W. Adams St. Cushman & Wakefield’s Chris Wood and David Stefancic represented USG in the deal, while Stream Realty Partners' Mark Bâby and Katie Hull represented property ownership, Manova Partners.
THIS AND THAT
Blue Vista Capital Management formed a strategic collaboration with UBS's Unified Global Alternatives division of real estate and Extra Space Storage to invest in U.S. self-storage assets. The collaboration will have $600M in buying power to build a diversified self-storage portfolio, with a strategy to identify core, core-plus, value-add and development opportunities across the U.S.
