Berkadia Completes the Sale of Boutique Luxury Multifamily Community in River West Neighborhood of Chicago, Illinois
CHICAGO, ILLINOIS – January 30, 2024 – Berkadia Institutional Solutions announced today the sale of Mondial River West, a 141-unit high-rise luxury multifamily property in Chicago, Illinois. Senior Managing Director Pete Evans of Berkadia Chicago and Senior Director Richard Evans of Berkadia Milwaukee led the transaction on behalf of the seller, an institutional investor. The buyer was a Chicago-based company. The transaction closed on December 28, 2023.
“When sales volume decreases, relationships become most important. Having transacted with both parties for more than 20 years allowed us to identify the perfect opportunity for both buyer and seller to accomplish specific goals — which culminated in a closing 17 days after LOI,” said Pete Evans. “Uniting these two consummate professionals and their aligned goals resulted in a seamless and refreshingly easy transaction. This shared accomplishment was the perfect end to 2023 and demonstrates the pathway to positive opportunities and outcomes in 2024.”
Located at 910 West Huron Street, in Chicago’s River West neighborhood, the property has distinctive Le Corbusier architectural styling and is a reinforced concrete 15-story two-elevator high-rise building constructed in 2009. Mondial River West includes unobstructed skyline views, floor-to-ceiling glass windows and doors, 10’ to 12’ ceilings, and ranks within the submarket’s top three multifamily properties for largest units, at an average of 1,088 square feet.
The property’s positioning is powerful: a five-minute walk to the city’s incoming first “Mega-Casino,” the $1.7 billion Bally’s Chicago. Mondial River West sits at the center of Downtown’s Chicago’s core employment hubs — Fulton Market, West Loop, Loop, River North, and Goose “Silicon” Island. The quiet, walkable River West neighborhood is bordered by the Chicago River, major arteries Hubbard Street and Division Street, and I-90/94. River West offers exceptional access to public transportation, convenient daily retail, and quiet tree-lined streets. The neighborhood features a vibrant mix of nightlife and renowned restaurants, surrounded by upscale residential and walkable grocery stores, including Whole Foods and Jewel-Osco. Mondial River West will continue to capitalize on the centricity of its location, desirable mix of urban-meets-suburban, and the multitude of powerful proximate economic drivers.