 |
The Parker, a Class A 227-unit luxury apartment building located in Chicago’s Fulton Market submarket. |
CHICAGO,
IL – JLL Capital Markets handled the sale and
acquisition financing for The Parker, a Class A 227-unit luxury
apartment building located in Chicago’s dynamic Fulton Market submarket.
 |
Jennifer Hull
|
JLL represented the seller,
institutional investors advised by J.P. Morgan Asset Management and Atlantic
Residential, in the sale to JDL Development. Working on behalf of the new
owner, JLL also secured the fixed-rate, five-year acquisition loan with Northwestern
Mutual Life.
 |
Colleen Watson
|
The JLL Investment Sales and Advisory team was led by Managing Directors Kevin Girard and Mark Stern along with Director Zach Kaufman, Associate Jennifer Hull and Analyst Colleen Watson. Meanwhile, Senior Managing Directors Danny Kaufman and Matthew Schoenfeldt alongside Directors Medina Spiodic and Mary Dooley, Associate Rebecca Brielmaier and Analyst Youngsoo Yang secured the acquisition financing.
 |
Mary Dooley
|
Developed by Atlantic Residential, Shapack Partners, and
Focus Development in 2016, The Parker is highly occupied, offering a mix of
units ranging from studios to three-bedrooms. The 29-story building features panoramic views of
downtown Chicago and boasts top-tier amenities.
 |
Rebecca Brielmaier
|
These include a fitness center,
yoga studio, rooftop pool, club room with demo kitchen, work-from-home space,
outdoor dog run, indoor dog wash, private parking garage, package concierge
system, dry-cleaning pickup lockers and bicycle storage.
 |
| Medina Spiodic |
Located at 730 W Couch Place, the
property is situated in the eastern section of Fulton Market, which is widely
considered the most desirable area of this dynamic neighborhood.
 |
| Youngsoo Yang |
The building's
proximity to Chicago's top employers makes it an ideal home for professionals,
while its location just steps from the renowned Randolph Street Restaurant Row
ensures a vibrant dining and social scene at the doorstep.
In recent years,
Fulton Market has also experienced a significant boom in Class A retail, hotel
and office developments, further enhancing the area's appeal and solidifying
its status as one of Chicago's most sought-after neighborhoods.
 |
| Kevin Girard |
“The Parker exemplifies the
transformation of Fulton Market,” said Girard. “Once an industrial hub, the
area has evolved into a vibrant neighborhood, becoming magnet for restaurants,
bars and Fortune 500 firms alike.
The Parker's strong performance and growth
potential in this dynamic setting make it an exceptional investment, reflecting
continued confidence in high-quality multifamily assets in strategic urban
locations."
JLL Capital Markets is a
full-service global provider of capital solutions for real estate investors and
occupiers.
The firm's in-depth local market and global investor knowledge
delivers the best-in-class solutions for clients — whether investment sales and
advisory, debt advisory, equity advisory or a recapitalization.
 |
| Mark Stern |
The firm has
more than 3,000 Capital Markets specialists worldwide with offices in nearly 50
countries.
For more news, videos and
research resources, please visit JLL’s newsroom.
About Atlantic
Residential
Atlantic
Residential is based in Atlanta, Georgia and is a privately held multi-housing
and mixed-use owner, developer, and manager with extensive experience on
projects in Chicago and other major markets in the Midwest and Southeast.
 |
| Zach Kaufman |
Founded by Richard and Andrew Aaronson in 1995, the firm has developed over
$3.0 billion of new construction with 11,000 residential units over the last 25
years, The firm has an industry reputation for developing and managing premium
quality garden style, mid-rise, and high-rise multifamily and mixed-use
projects in urban and suburban markets.
About JDL
Development
Premier developer
of luxury high-rise residential communities in downtown Chicago. JDL’s
executive team brings more than 60 years of combined real estate
experience to projects ranging from $100MM to more than $900MM. JDL
has delivered more than 2,500 units over the last 10 years.
 |
Danny
Kaufman |
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global
commercial real estate and investment management company, has helped clients
buy, build, occupy, manage and invest in a variety of commercial, industrial,
hotel, residential and retail properties.
A Fortune 500® company
with annual revenue of $20.8 billion and operations in over 80 countries around
the world, our more than 110,000 employees bring the power of a global platform
combined with local expertise.
 |
Matthew
Schoenfeldt |
Driven by our purpose to shape the future of
real estate for a better world, we help our clients, people and communities SEE
A BRIGHTER WAYSM.
JLL is the brand
name, and a registered trademark, of Jones Lang LaSalle Incorporated. For
further information, visit jll.com.
CONTACT
Gréta Kieras,
Senior Associate,
Public Relations
Phone: +1 949
930 8498
Email: greta.kieras@jll.com
