Marcus & Millichap announced a Dec. 2, 2020 bid deadline for the court-supervised auction of the Windy City Portfolio. Comprising four multifamily properties in St. Charles, Glen Ellyn, Addison and Mundelein, Illinois, the portfolio totals 528 units.
“The Windy City Portfolio is an opportunity for an investor to establish a significant ownership and management presence with a single transaction in the suburbs of the nation’s third-largest city,” said Ryan Engle, senior managing director investments in Marcus & Millichap’s Chicago Oak Brook office. “The portfolio is being sold subject to a minimum stalking-horse overbid of $40,080,000 and the sale will be conducted subject to the court-approved bid procedures. If one or more qualified bids are submitted after the Dec. 2 bid deadline, an auction will be held on Dec. 4.”
The Windy City Portfolio represents a diverse range of suburbs outside Chicago’s main core and draws tremendous value from the city’s historically strong apartment fundamentals, demographics, vital employment centers and wide array of entertainment options. The properties for sale are the 220-unit Fox Run Apartments in St. Charles, the 120-unit Parkside Apartments in Glen Ellyn, the 118-unit Villa Brook Apartments in Addison and the 70-unit Embassy Apartments in Mundelein.