Multifamily N Illinois

CBRE negotiates sale of 550-unit apartment property in Chicago area

CBRE negotiates sale of 550-unit apartment property in Chicago area,ph1

CBRE recently represented Greenwood Capital Investment LLC in the sale of Autumn Chase Apartments, a 550-unit multifamily property in Hoffman Estates, Illinois. John Jaeger and Dan Cohen of CBRE represented Greenwood Capital Investment in the sale to Chicago-based Tricap Acquisitions, LLC.

“This is a great value-add opportunity for new ownership,” said Jaeger, executive vice president with CBRE. “With a lack of luxury product in the area, reinvesting in unit and community upgrades will be well received.”

Autumn Chase contains a unit mix of studios, 1-bedroom 1-bath, 2-bedroom 1-bath and 2-bedroom 1.5-bath apartments. The community features an outdoor pool with a sun deck, a tennis court, a clubhouse and multiple barbeque areas. It is located within minutes of the popular Woodfield Mall and has excellent access to I-90, I-290 and Route 53. The property was completed in the early 1970s.