Inland Residential Properties Trust purchased an 85-unit multifamily property located in Vernon Hills.
Joe Cosenza of Inland facilitated the transaction along with Brett Smith of Inland, according to a statement from Inland.
The property is located at 1255 Town Center Road near the intersection of Milwaukee Avenue and Half day Road on 2.37 acres and was constructed in 2010. The Commons at Town Center consists of a six-story building featuring 30 one-bedroom, 50 two-bedroom and five 3-bedroom units with 130 parking spaces.
Retail space is occupied by Sam Martirano Salon & Spa, Hawthorn Dental Associates, Eight Piece Rolls, Design Studio Jewelry and Giuseppe’s Pizza Restaurant.
The property was 96 percent leased as of March.