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 Picks Up Wheeling MF in Off-Market Deal
33 Realty’s Sean Connelly represented Naperville, IL-based Marquette Companies in the off-market acquisition of the 402-unit Foxboro Apartments in Wheeling, IL. The seller was Partnership Concepts, which sold it to Marquette for $54.25 million.
“This was an excellent opportunity for our client to expand its Chicago area portfolio with housing that caters to the many corporations based in the area,” said Connelly. Built in two phases in the late 1970s, Foxboro is a five-building apartment complex offering one and two-bedroom units with various floorplans for rent.
Foxboro’s location puts it in the center of the Chicago’s suburban corporate headquarters hub, where companies such as Allstate, Abbott and Astellas are located.
“There is not a lot of product in the market, so properties like this that are well-located and well-maintained move quickly even without a full marketing process,” added Connelly.
Tara Mathew, a Chicago-based independent broker, assisted Connelly with the transaction.
Connect Industrial Midwest is coming to Rosemont, IL on March 4. For more information, or to register, click here.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
