Elaine Place, Lakeview
Crain’s Chicago Business covered the sale of the Elaine Place apartment portfolio — “Developer buys Lakeview apartments for $61.5M with plans to expand” (Rachel Herzog, August 19, 2026).
The buyer, Chicago-based Concord Capital, acquired the apartment portfolio on the 3400 block of North Elaine Place from New York investor CLK Properties. The deal came together off-market as part of the seller’s 1031 exchange — the kind of transaction that never reaches a listing site, and the reason relationships move buildings in this market.
Crain’s reports the new owner plans to grow the property: the site’s zoning leaves substantial room to add units, starting with garden-level apartments in space currently used for storage — supply-constrained North Side housing, put to work.
As Crain’s put it: “Sean Connelly, principal at 33 Realty, brokered the deal.”