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Passco Adds Luxury Multifamily in Lake County
Passco Companies acquired The Atworth at Mellody Farm, a 260-unit luxury multifamily community in Vernon Hills, IL, from AEW Capital Management, Focus and Atlantic Residential. Although deal terms weren’t disclosed, Crain’s Chicago Business reported a purchase price of $90 million.
The apartment community was developed in 2018 adjacent to Mellody Farm, an upscale dining and retail center destination within this affluent Lake County community, a northern suburb of Chicago.
“The Atworth at Mellody Farm is a strong addition to our portfolio, fulfilling all the criteria we look for when it comes to sourcing top-tier multifamily assets in premium locations positioned for growth,” said Passco’s Jake Niles. “High demand for this community was demonstrated by an unprecedented 10-month lease-up.”
Peter W. Evans and Richard G. Evans of Moran & Company Midwest represented buyer and sellers in the transaction.
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- ◦Sale/Acquisition


