342
Units
2019
Built
658
Avg Unit SF
Overview
THE DRAPER IS A 342-UNIT LUXURY APARTMENT COMMUNITY LOCATED IN THE HISTORIC UPTOWN NEIGHBORHOOD ON THE NORTH SIDE OF CHICAGO.
THE RESIDENTIAL DEVELOPMENT CONSISTS OF A CONVERSION AND COMPLETE RENOVATION OF EXISTING 11-STORY AND SIX-STORY OFFICE BUILDINGS FROM THE 1960’S.
ASSUMABLE IN-PLACE FANNIE MAE DEBT
- 2.85% INTEREST RATE
- 7 YEARS OF TERM REMAINING
AFFORDABLE HOUSING SPECIAL ASSESSMENT PROGRAM (AHSAP)
Requires 15% of Units be Affordable to Households Earning 60% Of AMI or Less for a 25% Reduction in Assessment
TRANSIT-ORIENTED
One-Half Block from CTA Argyle Red Line Station
SURROUNDED BY RETAIL & ENTERTAINMENT
- Located within One Mile of Four Full-Service Grocery Stores:
- Jewel-Osco (2), Mariano’s (2), ALDI, Target
- Neighborhood Theatres Include:
- The Riviera, Aragon Ballroom, Green Mill Cocktail Lounge, and Soon-to-be Renovated Historic Uptown Theatre.
ROBUST AMENITY PACKAGE
Lobby Lounge, Multi-Level Fitness Center, All-Season Rooftop Lounge with Kitchenette, Rooftop Swimming Pool & Terrace with Grills and Fire Pits, Media Room, Bike Storage, and Garage Parking
CHICAGO INVESTMENT HIGHLIGHTS
#1
DEMAND MARKET of 150 CORE MARKETS
(50 Largest Markets)
-CoStar
#2 | #3
HOTTEST RENTAL MARKET OF 2025
Chicago + Suburban Chicago
-RentCafe
TOP 10
LOWEST RENT WALLET SHARE LARGE METRO
-Zillow + RealPage
#1, #2, and #4
Annual Rent Growth Leader
-Every Month of 2025
( RealPage)
Gallery
Contact Us
Chicago Office
125 S. Wacker Drive, Suite 400
Chicago, IL 60606
INVESTMENT SALES
PETE EVANS
Senior Managing Director
847.226.0836
[email protected]
RICHARD EVANS
Senior Director
773.991.3321
[email protected]
NICK HARRIS
Senior Financial Analyst
312.845.5179
[email protected]
Mortgage Banking
MICHAEL SLOVITT
Managing Director
312.636.5322
[email protected]
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2026 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.