CP Capital, a U.S. real estate manager specializing in multifamily investments, has sold The Monarch, a 236-unit, four-story multifamily community in Des Plaines, Illinois. The project, which was completed in 2020, sold at 100 percent leased and 99 percent occupied.

“We’re incredibly proud of our team’s hard work and forward-thinking investment strategy, which not only led to this successful transaction, but enabled us to produce solid returns for our investors,” said Jay Remillard, managing director at CP Capital. “Alongside our operating partner, we pinpointed a unique opportunity to bring affordable, luxury apartment rentals to a market with limited supply. Despite market headwinds and a tricky local tax environment, we successfully achieved many of our original investment goals for this project.”

Located at 150 East River Road, The Monarch is in close proximity to Interstate 294, providing direct access to the Rosemont/O’Hare employment center, O’Hare International Airport, and downtown Chicago.