USAA Real Estate Company has acquired Chestnut Place, a 30-story residential building located at 850 N. State Street in Chicago, in partnership with Chicago-based Golub & Company, an international real estate investment and development firm.
Michael Goldman and Collin McKenna of Golub, and David Reahl of USAA, negotiated the acquisition. The seller, Chestnut Place Associates, was represented in the transaction by CBRE. The purchase price is undisclosed.
“Chestnut Place Apartments makes a great addition to our investment portfolio,” commented USAA Real Estate Company CEO Len O’Donnell. “With its prime location in the Gold Coast — one of the most sought after residential and retail submarkets in Chicago — as well as the superior management capabilities Golub & Company brings to bear, we anticipate driving strong income from this appealing asset on behalf of our investors.”