**Lincoln Park Apartment Sale Sets Per-Unit Pricing Record**
CBRE has finalized the sale of 516 W Arlington, an eight-story, 14-unit multifamily building located in Chicago’s Lincoln Park neighborhood. The property was acquired by Highland Real Estate Partners LLC for $10,350,000, reportedly setting a price-per-unit record for the area at $739,000.
The transaction was brokered by CBRE’s Justin Ross and Danny Byrne, who represented the seller.
“Lincoln Park’s low supply of developable sites has insulated the area from new construction,” said Ross. “This limited new supply has translated into stronger performance metrics across the board, with better absorption, higher retention rates, and consistent rent growth, making this multifamily asset particularly attractive to investors. It spent only sixteen days on the market.”
Constructed in 2022, 516 W Arlington is fully leased and features a rooftop deck, private garage parking, and private balconies. The property is located near the intersections of Halsted Street, Lincoln Avenue, and Fullerton Avenue.
