CBRE has arranged the sale of Stonebridge of Arlington Heights, a 586-unit multifamily property in Arlington Heights, Ill. Bayshore Properties purchased the property from The Connor Group for an undisclosed amount.
CBRE’s Steve LaMotte, Jr., John Jaeger, Dane Wilson, Justin Puppi and Ross Wettersten represented the seller in the transaction.
“This property provides a number of value-add opportunities to new ownership, which was a major factor that ultimately contributed to this sale,” said Jaeger. “Stonebridge is also located in a fantastic suburb of Chicago and is surrounded by a number of restaurants, entertainment and retail venues including Annex of Arlington mall and Park Place shopping center.”
Built in 1973, Stonebridge of Arlington Heights is located at 650 W. Rand Road, proximate to Interstates 294, 90 and 290. The property offers a mix of one- and two-bedroom floorplans averaging 1,075 square feet and features a resort-style pool, a 24/7 fitness center, a dog park, walk-in closets, in-unit washers and dryers, tennis and basketball courts and bike storage rooms.
