Jason Stevens

Cushman & Wakefield Brokers $40 Million Sale of 13thirteen Randolph Street Lofts in Chicago’s Fulton Market

CHICAGO, Nov. 6, 2019 – Cushman & Wakefield’s Midwest Multifamily Advisory Group has brokered the $40,150,000 sale of 13thirteen Randolph Street Lofts, a 74-unit mixed-use property at the southwest corner of Randolph and Elizabeth streets in the West Loop’s Fulton Market District. The per-unit price is one of the highest paid so far this year in Fulton Market, according to CoStar data. Todd Stofflet and Jason Stevens, managing directors of Cushman & Wakefield’s Midwest Multifamily Advisory Group, represented the seller, JP Morgan Asset Management, in the sale of the asset to RDG Funds LLC, a Chicago-based private equity firm. “The sale reflects the continued popularity of Fulton Market, particularly among investors in search of stabilized assets that stand to benefit from the neighborhood’s favorable long-term fundamentals,” said Stofflet. “As leading employers continue to establish and expand operations in the West Loop, demand for well-located rental communities like 13thirteen Randolph will [...]

C&W Brokers Sale of LUXE on Chicago, 59-unit Mixed Use Multifamily Property in West Town/Wicker Park

CHICAGO, Aug. 5, 2019 – Cushman & Wakefield’s Midwest Multifamily Advisory Group has brokered the sale of LUXE on Chicago located at 1838 W. Chicago in the trendy West Town/Wicker Park neighborhood. The recently developed mixed-use multifamily property is home to 59 apartments and 13,979 square feet of ground-floor retail space. Jason Stevens and Todd Stofflet of Cushman & Wakefield represented Fifield Companies in their sale to a private, international investor. The fully amenitized asset, which includes studios, one-, two-, and three-bedroom units, was 92 percent occupied at the time of sale. The building was completed by Fifield Companies in 2016 and is one of the few Class A assets in West Town. “We were very excited to represent such an iconic developer in Chicago,” said Stofflet. “The unique execution included an international buyer and an assumption of Agency financing.” “Although we cannot comment to specific pricing, the price per [...]

Cushman & Wakefield Hires KIG CRE Brokerage Team

Susan Tjarksen, Todd Stofflet and Jason Stevens Bolster Firm’s Midwest Multifamily Institutional Investment Sales Platform CHICAGO, October 8, 2018 – Cushman & Wakefield today announced the Chicago office has hired KIG CRE’s multifamily institutional investment sales brokerage team. Susan Tjarksen, Todd Stofflet and Jason Stevens joined as Managing Directors on October 1 and will be based in the firm’s office at 225 West Wacker Drive. They are accompanied by Laura Ballou, Jacob Albers, Daniel Falkenberg, Caleb Zielke and Brenda Cuellar from their team. The sales team has brokered over $2.4 billion of multifamily sales, 145 acres of multifamily land and sold more than 33,000 apartment units. Vicki Noonan, Chicago Managing Principal, Cushman & Wakefield, stated: “The KIG team is forward-thinking and has a fantastic transaction track record. Their expertise in interpreting and delivering data-driven intelligence bolsters our Chicago investment sales platform and will drive value and transparency throughout the sales [...]