Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Chicago & Midwest  + Greater Chicagoland  + Apartments  | 

NorthMarq Arranges St. Charles Sale to Evergreen Real Estate

NorthMarq managing director Parker Stewart, associate VP Dominic Martinez and senior associate Alex Malzone secured the sale of Haven St. Charles in St. Charles, IL for an undisclosed sum. Chicago-based Evergreen Real Estate Group acquired the 71-unit property from Tricap Residential, also based in Chicago.

Current ownership has spent roughly $1.5 million in capital improvements over the past few years upgrading the circa-1974 apartment community, which was 97% occupied at the time of sale. 

“The strong location, occupancy, and lack of deferred maintenance for a 1970’s vintage asset made this an attractive opportunity to a large number of local and regional buyers,” said Stewart. “Ownership did an exceptional job executing on full interior renovations and stabilizing the revenue stream to offer a true ‘turn-key” operation for the buyer.”

NorthMarq’s Chicago debt/equity team of Kevin McCarthy, Brett Hood and Sue Blumberg secured financing for the property through Freddie Mac’s Optigo program. 


Inside The Story


About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Step 1: Select Education
  • ◦Sale/Acquisition
  • ◦Financing
New call-to-action