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Chicago & Midwest  + Apartments  | 
Origin Makes $69.8M Sale

Origin Investments in $69.8M Naperville Apartment Sale

Origin Investments and its joint venture partner Randolph Street Realty Capital have completed the disposition of The Iroquois Club, a 272-unit apartment complex at 1101 Iroquois Avenue in west suburban Naperville, for $69.8 million. 

The sale capitalizes on the strength of Chicago’s suburban multifamily market and a favorable capital markets environment. Origin has leveraged those market conditions to complete their third suburban disposition in roughly 120 days.

The buyer, a private, Chicago-based investor, has an extensive portfolio of properties in the Chicago metropolitan area that is managed by TLC Management.

Over the six-plus year holding period, the sale of The Iroquois Club generated Origin’s investors an internal rate of return of 21% and an equity multiple of 2.99x.

“We accomplished the comprehensive business plan we established for The Iroquois Club,” said Marc Turner, Managing Director of Investment Management at Origin Investments.


Inside The Story

Marc Turner

About Ted Jackson

A highly successful financial journalist, corporate financial writer and magazine entrepreneur with strong expertise in writing on fixed income and pass-through securities (ABS), finance and banking, the economy, economic developments, financial markets, investing and personal finance, the business of behavioral healthcare and more.

  • ◦Sale/Acquisition