Greenstone Partners recently facilitated the sale of Canterbury Court Apartments, a 176-unit multifamily property located at 1220 N. State Pkwy in Chicago’s prestigious Gold Coast neighborhood. The property was sold for $25.7 million and includes the iconic Zebra Lounge on its ground floor.
Leading the transaction were Greenstone Partners’ Senior Director Jordan Multack and Managing Partner Danny Spitz, who represented the seller along with Nicholas Kanich from Marcus & Millichap. Multack also brought in Becovic Holdings Corporation as the buyer.
According to Multack, this was a rare opportunity to acquire a vintage family-owned multifamily property with potential for value-add improvements in such a desirable location like Gold Coast. The apartment complex consists of 142 studio units, 26 one-bedroom units, two two-bedroom apartments and six additional units previously used by the former owner.
Becovic Holdings Corporation President Isa Becovic expressed excitement about their acquisition of this historic landmark building in Gold Coast and their plans to revitalize it while maintaining its affordability for residents: “We recognize the tremendous value and potential of this property,” said Becovic.
This successful sale is another testament to Greenstone Partners’ expertise in facilitating high-value real estate transactions across Chicago’s most sought-after neighborhoods.
