South Elgin Deal is Submarket’s Largest in 20 Years
Interra Realty brokered the $24.5-million sale of Panton Mill Station, a new 100-unit luxury rental community at 355 N. La Fox St. in South Elgin, IL on the Fox River about 40 miles northwest of Chicago. It’s the largest apartment transaction in the South Elgin submarket in more than 20 years.
Principals Jon Morgan and David Goss represented the seller, an affiliate of Chicago-based Synergy Construction Group, which completed the building in spring 2020. Interra ran a competitive bid process and received multiple offers. The winner, MTA South Elgin, was represented by Interra managing partner Patrick Kennelly and director Paul Waterloo.
“We have seen a continued uptick in suburban investment activity driven by the strong performance of these assets – especially newly constructed rental communities – during the pandemic,” said Morgan. “Demand for single-family suburban homes got a lot of attention this year, but many households still prefer the flexibility of renting.”
- ◦Sale/Acquisition
