Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it brokered the $11.29 million sale of 246 Green Bay Road, a new mixed-use development with 31 luxury apartments and two retail spaces in Highwood, Ill., 30 miles north of Chicago. The price per unit was $342,424.
Interra Managing Partner Craig Martin represented both the buyer, HP Ventures Group, and seller, Benchmark Developers. Based in Chicago, HP develops and purchases newer apartment and townhouse projects, targeting renters who want high-quality units while enjoying the flexibility and relative affordability of renting. Rolling Meadows, Ill.-based Benchmark Developers built 246 Green Bay in 2021.
246 Green Bay includes 20 one-bedroom units, 10 two-bedrooms and one three-bedroom. The apartments, which are 97% occupied, feature hardwood floors; modern kitchens with white cabinets, quartz countertops and stainless steel appliances; and in-unit laundry. The building also offers its residents covered and exterior parking, a fitness center, community room and lounge, sun deck with grilling stations, bike storage, and secured building entry.
The property’s retail spaces are fully occupied by Noon-O-Kabab and PVR Dental.
246 Green Bay Road is less than two blocks from the Highwood Metra station and also close to thoroughfares including Skokie Highway, Half Day Road, and Interstates 94 and 294. Lake Forest College, Lake Forest Hospital and other major north suburban employers such as Baxter and Allstate are also nearby.
