Multifamily L Iowa
Berkadia sells four-property apartment portfolio in Iowa

Berkadia sells four-property apartment portfolio in Iowa

Berkadia closed the combined sale of a portfolio of four multifamily properties in Davenport, Iowa. Director Parker Stewart and Senior Managing Director Alex Blagojevich of Berkadia’s Chicago office, along with Senior Director Michael Sullivan of Berkadia’s Kansas City office, together completed the sale on behalf of the seller, Iowa-based Advance Homes, Inc.

Multifamily N Illinois
2019 CAMME Awards celebrate Chicagoland apartment industry excellence

2019 CAMME Awards celebrate Chicagoland apartment industry excellence

The 2019 Chicagoland Apartment Marketing and Management Excellence (CAMME) Awards celebrated 52 winners at its 26th annual gala Friday evening, October 18, at the Chicago Marriott Downtown Magnificent Mile. More than 1,100 industry professionals attend the Chicagoland Apartment Association’s prestigious CAMME awards each year to honor the excellence of Chicagoland’s multifamily housing industry.

Multifamily N Illinois
Interra Realty brokers sale of multifamily property in West Suburban Chicago

Interra Realty brokers sale of multifamily property in West Suburban Chicago

Interra Realty brokered the sale of 1917-23 S. Grove Avenue, a four-story, 34-unit building in Berwyn, Illinois, a western suburb of Chicago. Interra managing partner, Pat Kennelly, and director, Paul Waterloo, represented both the seller, Riverside-based Property Rental Inc., and the buyer, BAM 1917 Grove LLC, which plans to undertake a $1 million gut rehab of the building.

Multifamily W Minnesota
Stahl to tackle remodeling work at minneapolis' The Carlyle

Stahl to tackle remodeling work at minneapolis' The Carlyle

Stahl was selected as a partner to remodel finishes throughout The Carlyle in Minneapolis, a luxury residence. Located on the Mississippi riverfront in Minneapolis’ historic Mill District, Stahl will renovate the first- and fifth-floor common areas including the lobby, build a new club room and yoga room on the fifth floor and install new finishes on all residence floors in the 39-story building.

Multifamily V Michigan
CBRE sells 96-unit apartment project in Michigan

CBRE sells 96-unit apartment project in Michigan

CBRE closed the sale of North Pointe Apartments in Jackson, Michigan. Jack Johns and Stephen Hershfield from the CBRE Michigan Multifamily Investment Sales Team arranged the transaction on behalf of the seller, Madison North Pointe LLC. The property was acquired by Twins Real Estate, LLC, which subsequently awarded Andover Management the property management assignment. A sale price was not disclosed.

Multifamily N Illinois
Marcus & Millichap arranges sale of 12-unit Aurora apartment building

Marcus & Millichap arranges sale of 12-unit Aurora apartment building

Marcus & Millichap closed the sale of a 12-unit apartment property located in Aurora, Illinois. Randolph Taylor, an investment specialist in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust and also represented the buyer, an individual/personal trust. The asset sold for $785,000.

Multifamily N Illinois
Andersonville apartment property with 54 units, rooftop deck coming later this year

Andersonville apartment property with 54 units, rooftop deck coming later this year

The Ainslie, located at 4914 N. Clark Street, is a 54-unit development set to open late 2019 in the Andersonville neighborhood of Chicago. Pre-leasing and walk-throughs of apartments will start in October 2019. Developed by Honore Properties and Peerless Development, the building is comprised of four stories: the ground floor will house 6,000 square feet of retail space and the parking garage, while floors two through four will contain the apartments.

Multifamily N Illinois

Buligo Capital completes sale of Chicago-area apartment communities

JLL closed the $25.7 million sale and $20.56 million financing of Central Park and Governor’s House Apartments, two apartment communities totaling 316 units in south suburban Chicago. JLL marketed the properties on behalf of the seller, a Buligo Capital Partners and Ferndale Realty Group joint venture. Bender Companies purchased Central Park Apartments for $17.4 million and Governor’s House Apartments for $8.3 million.

Multifamily N Illinois
Lake Point Tower residents fight back against deconversion

Lake Point Tower residents fight back against deconversion

Chicago’s historic Lake Point Tower has taken steps that are meant to ensure that the building remains permanently owner occupied and will not be deconverted to apartments. The Lake Point Tower Condominium Association (LPTCA) board, as well as a supermajority of unit owners, recently adopted two amendments to prevent the building from being changed back into apartments.