Colliers Facilitates Sale of 360-Unit Indiana Multifamily Property

Colliers completed the sale of The Ridge Apartments, located at 1718 West 55th Avenue in Merrillville, Indiana. Morgan Properties acquired the community.

The sale was led by the Colliers team of Bryce Wetzel, Tyler Hague, Lauren Stoliar and Ryan Roegner, who represented the owner, Parkmont Group, a real estate investment and operating firm based in New York. “Parkmont executed a highly successful value-add strategy at The Ridge, combining significant capital improvements with strong operational execution,” said Wetzel. “Despite a challenging investment environment, the property attracted strong investor interest due to its compelling value proposition, supply-constrained location within the Chicago MSA, and continued upside potential.”

Originally developed between 1970 and 1981 and renovated in 2024, The Ridge features a variety of one- and two-bedroom floor plans with one, one-and-a-half, and two-bathroom layouts. The community provides access to major employment centers, educational institutions, and a wide range of shopping, dining, and entertainment options throughout the Chicago metropolitan area.

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