Apartment Investment and Management Company (Aimco) has entered into a definitive agreement to sell its portfolio of seven apartment properties, including 1,495 units, located in the Chicago market for $455 million.

The deal is part of the Denver-based company’s plan to liquidate over the next year. Los Angeles-based LaTerra Capital Management and Fort Lauderdale-based Respark Residential are under contract to acquire the portfolio.

The portfolio includes a mix of high-rise, mid-rise, garden-style and townhome buildings. A closing date is expected in early 2026. Aimco has already sold its Boston portfolio for $740 million and plans to sell a development in Florida for $520 million.

The Chicago sale represents a significant portion of Aimco’s portfolio, which includes 15 multifamily communities totaling 2,524 apartments, along with three newly completed projects containing 933 units. Net proceeds from the sale of the Chicago portfolio, when accounting for associated property-level debt and transaction costs, are expected to be approximately $160 million.