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Inland Acquires 306-Unit Multifamily in Chicago Suburb
Inland Real Estate Acquisition has closed the purchase of Wheaton 121, a 306-unit multifamily property in Wheaton, Illinois, approximately 25 miles west of Chicago.
Mark Cosenza, senior vice president of Inland Acquisitions, with assistance from Brett Smith, VP and associate counsel of The Inland Real Estate Group, LLC, Law Department, completed the transaction on behalf of an Inland affiliate. At closing, Wheaton 121 was 94 percent occupied.
Located at 121 North Cross Street, the property is comprised of five studios, 217 one-bedroom, 80 two-bedroom, and four three-bedroom units. “Wheaton 121 is another example of the opportunities Inland seeks in multifamily,” said Cosenza. “This community is ideally located, offering residents a number of amenities and convenient accessibility to surrounding suburbs and the City of Chicago.”
The property is steps from downtown Wheaton, offering efficient access to the Metra and the city’s dining and entertainment district. Target, Mariano’s and Northwestern Rehab Hospital are also nearby.
