CBRE Investment Sales has recently completed two sales in St. Charles, Ill. for $38.2 million.
The CBRE investment sales team of John Jaeger, Dan Cohen and MJ Zaring advised Shodeen Group in the sale of Wessel Court, a 228-unit multifamily property at 1820 Wessel Court to Axiom Properties Inc. for $20.8 million. Axiom Properties Inc. is an active Chicago based owner and manager of apartment communities in the Midwest. The CBRE team also advised Kinzie Realty Corp. in the sale of Fox Run, a 220 loft and apartment homes at 145 Walnut Drive to Windy City RE LLC for $17.4 million. Windy City RE LLC has bought 1,200 apartments in the past year.
Fox Run Apartments has four, four-story buildings, each with 55 units and a total of 191,680 square feet net rentable space.
Wessel Court Apartments has 191,900 square feet of total net rentable space and is the third property CBRE has sold for The Shodeen Group. “We are pleased to have worked together with the CBRE team on our third successful property sale,” said Scott Pfisterer, Executive Vice President of Shodeen Group.
