August 6, 2019
Cushman & Wakefield’s Midwest Multifamily Advisory Group has brokered the sale of LUXE on Chicago, located at 1838 W. Chicago in the North Side’s West Town/Wicker Park neighborhood. The recently developed, mixed-use multifamily property is home to 59 apartments and 13,979 square feet of ground-floor retail.
Jason Stevens and Todd Stofflet of Cushman & Wakefield represented Fifield Companies in the sale to a private, international investor. The fully-amenitized asset, which Fifield completed in 2016, was 92% occupied at the time of sale.
“We were very excited to represent such an iconic developer in Chicago,” said Stofflet. “The unique execution included an international buyer and an assumption of agency financing.”
Stevens added, “Although we cannot comment to specific pricing, the price per unit for the asset was around $525,000, which represents one of the top sales prices in the neighborhood.”
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