Multifamily Midwest

HFF closes $40 million sale of 694-unit affordable housing community in Chicago

HFF announced today that it has closed the sale of Parkway Gardens, a 694-unit, 100 percent Project-Based Section 8 community on the south side of Chicago. Related Companies, through its Related Affordable division and in a venture with Wells Fargo & Company, acquired and will manage the property and plans to invest an additional $40 million to substantially renovate Parkway Gardens.

Multifamily Midwest

Centerline Capital Group Invests In Chicago’s Park Boulevard Redevelopment Deal

Centerline Capital Group has invested $9.1 MM in the second phase (2A) of the new Park Boulevard project in Chicago. The redevelopment of this south side public housing project is the corner stone of the rejuvenation efforts in the area. This affordable multi-family housing project is one of 16 projects spanning 10 states included in Centerline’s latest Fund, CCP38 which recently closed at $119.25MM.

Multifamily Midwest

Several Class A Apartment towers up for sale

| markt

The apartment market is booming in Chicago and big name developers are attempting to capitalize on the recent surge in value as several buildings have been offered up for sale. Chicago-based Fifield Companies has announced that Echelon and Alta K Station, two Class A luxury apartment complexes in Chicago’s West Loop are available for sale. The buildings offer a combined 1,198 units.

Multifamily Midwest

Apartment market heats up

A dearth of commercial construction in Chicago has been the norm for the past several years, but as the multifamily market stands to post strong gains for the foreseeable future, big name developers are once again lining up to alter the city’s skyline

Multifamily Midwest

Marcus & Millichap completes multifamily sale

Marcus & Millichap Real Estate Investment Services has announced the sale of Riverside Trail Apartments, a 60-unit apartment property located in Lyons, Ill., according to Steven Weinstock, regional manager of the firm’s Oak Brook office. The asset commanded a sales price of $3,510,000 or $58,500 per unit.