Loyola University Chicago recently purchased a $35 million apartment building located at the south end of its lakefront campus. The seven-story Arcade Residences building, situated on Sheridan and Broadway, is comprised of 58 units and borders the Edgewater and Rogers Park neighborhoods. Northbrook-based Borekci Real Estate developed the property in 2019 before it was sold to Loyola by real estate services firm Walker & Dunlop.
A spokesman for Loyola stated that they “continually evaluate their real estate holdings” around their campuses as well as strategic opportunities associated with them; however, for now they plan to maintain Arcade Residences as an apartment building rather than converting it into housing exclusively for students.
