CBRE has arranged the bulk sale of 185 units of the Ashton Condominiums, a 240-unit multifamily property in the sought-after Chicago suburb of Arlington Heights, Illinois. Lawton Realty Group, Inc. sold the asset to Randolph Street Realty Capital, LLC, for an undisclosed price in a transaction that closed on December 29, 2020.
CBRE’s Chicago multifamily team of John Jaeger, Dan Cohen, Justin Puppi and Nisha Mishra represented the seller in the transaction.
“Ashton Bulk Condominiums generated exceptional investor interest due to its strong operations, value add upside, and prime suburban location,” said Jaeger, executive vice president at CBRE. “The Chicago suburbs continue to be a top-performing multifamily market as the area provides unrivaled access to employment opportunities, transportation, and amenities.”
Located at 2302-2416 S. Goebbert Road, Ashton Condominiums is in a prime location close to O’Hare International Airport, Woodfield Mall and many large employers in the Northwest Chicago office market. It has many amenities, including a swimming pool, clubhouse, party room, fitness center, patios, laundry rooms and private storage rooms for each unit. The property has easy access to downtown and the surrounding suburbs with its close proximity to two Metra stations, Interstate 90 and Interstate 290.