Walker & Dunlop arranged the sale of The Arcade Residences for $35 million, representing one of the highest priced sales per door in Chicago. This mixed-use property, built in 2019, includes 58 rental units and 9,643 square feet of retail space.
Led by Todd Stofflet and Jason Stevens , Walker & Dunlop’s Chicago Investment Sales Team worked with owner Borecki Real Estate during construction to secure a sale over market pricing for their client.
Stevens commented on the demand for student housing near Loyola University’s campus: “Loyola suffers from a lack of purpose-built off-campus housing options nearby; with the nearest student apartment building being over six miles away and Class A options averaging 10+ miles from campus. The Arcade Residences efficiently satisfies this rapidly accelerating demand due to its unbeatable proximity.”
