Draper & Kramer takes loss in $59M Chicago apartment sale – Crain’s*

A venture led by Antheus Capital, a major South Side multifamily owner, earlier this month paid $59 million for Aspire Residences, a 24-story, 275-unit high-rise at 2111 S. Wabash Ave. that opened in 2020, according to Cook County property records. Draper & Kramer took out a $69 million construction loan to build the apartment complex, Crain’s reported in 2019.
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Ex Illini
5 months ago

Get used to headlines like these, and know that the fall of commercial real estate is going to increase the severity of the looming recession. Boy, Bidenomics sure is great isn’t it?

Leaving Soon, just not soon enough
5 months ago
Reply to  Ex Illini

No sure the blame goes on Biden. How about lack of education and Zero crime enforcement.

Streeterville
5 months ago

And Draper & Kramer ownership are nonetheless relieved to be relieved of this apartment building. Better to sell, and close in 2023, than try to sell and close in 2024, at a steeper price reduction.

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