Multifamily N Illinois

TGM acquires sixth Chicago-area multifamily community

TGM acquires sixth Chicago-area multifamily community,ph01

New York-based TGM Group has acquired a 347-unit, mid-rise apartment community in Northbrook, Illinois, their sixth in the Chicago market. Located at 770 Skokie Boulevard, the property was constructed in 2016 by a joint venture between Chicago-based Morningside Group and Schaumburg-based Crossroads Development Partners. Terms of the deal were not disclosed.

Formerly known as Northshore 770, the rebranded TGM NorthShore offers one and two-bedroom luxury apartments with a suite of amenities that include a doorman/concierge, a virtual-reality golf simulator, a community room with billiards table and shuffle board, a catering kitchen and a private dining room. Other amenities include a heated parking garage with electric vehicle charging stations, a dog park, a media center, a fitness facility, a business center and conference room. Two landscaped courtyards feature a heated pool with multiple outdoor grills.

“We are pleased to expand our footprint in Chicagoland with the acquisition of TGM NorthShore,” said Zach Goldman, TGM’s managing principal and director of operations. “TGM NorthShore raises the bar for luxury living with state-of-the-art amenities and interior apartment finishes surrounded by shopping, fine dining, parks, recreation, entertainment and the area’s largest employers.”

TGM NorthShore is managed by TGM’s property management company, TGM Communities and joins the firm’s other Chicagoland properties in Aurora, Naperville, Schaumburg, Wheaton and Willowbrook. The transaction was brokered by John Jaeger and Dan Cohen, both executive vice presidents at CBRE.