Eastern Union Secures $125,250,000 to Finance Acquisition of The Pavilion, a 1,115-Unit High-Rise in Chicago

NEW YORK, May 21, 2026 /PRNewswire/ -- Eastern Union, one of America's largest commercial real estate mortgage brokerages, has arranged a $125,250,000 loan to finance the acquisition of The Pavilion, a 15-story, 1,115-unit multifamily high-rise located at 5441 N. East River Road in the O'Hare neighborhood on Chicago's far-northwest side. 

The transaction is believed to be the largest apartment building sale in Chicago on a year-to-date basis.

The loan for the well-known, five-building complex was secured by Eastern Union senior managing director Michael Muller with support from commercial loan analyst Mike Orlik.

Situated on an 18.1-acre parcel, The Pavilion has a gross building area of 1,149,055 square feet and a net rentable area of 886,137 square feet. It was built between 1968 and 1972. With 1,367 parking spaces, the property's amenities include a club building, swimming pool, spa, sauna, fitness center, and barbecue area. The property was 96-percent occupied at the time of closing.

The borrower was Chicago-based R.I.G. Capital and the seller was Brookfield Asset Management. The financing was carried out as an agency execution through managing director Stephen York of Arbor Realty Trust of Uniondale, NY.

"With our knowledge of the market, we were able to provide our client competitive terms and seamless execution despite a volatile environment. We wish our client much success with this asset," said Mr. Muller.

At a sale price of $167 million, the transaction represented a 75-percent loan-to-cost ratio. Payments will be based on a 30-year amortization.

Mr. Muller noted that this transaction represented the first time that the property had traded hands in several decades.

About Eastern Union

Founded in 2001, Eastern Union is a national commercial real estate firm that employs more than 90 real estate professionals and closes billions of dollars' worth of transactions annually. Eastern Union leverages its relationships with lenders and its marketplace knowledge to secure the best available rates and terms.

Eastern Union secures financing for transactions of all sizes across the United States. Transactions, which can include multi-state and multi-site portfolios, encompass conventional commercial mortgages, structured debt, multifamily, office, retail, healthcare, hospitality, manufactured home properties, single-family rentals, self-storage, and -- handled in conjunction with company affiliate Eastern Equity Advisors -- equity placement.

For more information, visit www.easternunion.com.

Media contact:

Steve Vitoff
Eastern Union
516-652-0785
[email protected] 

SOURCE Eastern Union