The Palatine multifamily sale set a new record for suburban Chicago Here s what you need to know: – REJournals rejournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rejournals.com Daily Mail and Mail on Sunday newspapers.
At nearly $140 million, the deal for a Palatine complex offers an encouraging sign for local apartment landlords amid financial market turbulence and rising interest rates.
An Oak Brook investor has acquired a Palatine apartment complex for nearly $140 million, the most paid ever for a multifamily property in suburban Chicago. Albion Residential bought Bourbon Square, a 612-unit community at Lake-Cook Road and Illinois Route 53, from Los Angeles-based Broadshore Capital Partners, said Albion President Jason Koehn.