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New 190-Unit West Loop Multifamily Tower Sells For $82M


How hot is the multifamily building market? It's so sizzling that a building that only opened in April can sell for $82M. That's the price LaSalle Investment Management paid for the JeffJack apartments at 601 W Jackson. The 190-unit West Loop building was 77% occupied in May, but it's yet another sign of the strength of the downtown residential market, according to Crain's. The sale breaks down to $432k per unit. The JV team of architect Tom Roszak and tech exec Dan Moceri built JeffJack at a cost of $65M. [Crain's]