Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Marquette, LEF Buy Glenview “Diamond in the Rough”
HFF’s Matthew Schoenfeldt has arranged $27.5 million in acquisition financing for Valley Lo Tower II, a 112-unit, mid-rise apartment community in the northern Chicago suburb of Glenview, IL. The five-year, fixed-rate loan on behalf of The Marquette Companies and LEM Capital came from Allstate Investments.
Valley Lo Tower II’s new ownership is devoting a substantial portion of the loan proceeds to upgrade the property’s amenity package.
“This property represents a unique opportunity to reposition a marquee asset in one of Chicago’s North Shore suburbs,” said Schoenfeldt. “To longtime residents of the submarket, Marquette & LEM’s revitalization of Valley Lo is an absolute no-brainer.
“Even if a land parcel could be secured in a similarly compelling location, the cost to construct a building of this quality inclusive of underground parking would be prohibitive,” he added. “The partnership truly has a diamond in the rough.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Sale/Acquisition

Get Chicago News in 150 Words
