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Spirit, Bascom Group Partner to Buy Luxury Evanston High-Rise
Spirit Investment Partners and The Bascom Group have acquired the 221-unit 415 Premier apartments in Evanston, IL for $49,110,000 or $222,217 per unit. The seller wasn’t disclosed.
CBRE’s Dan Cohen represented the seller. Peter Marino, also of CBRE, arranged acquisition financing through Rialto Capital Management for the 17-story luxury high-rise, located directly adjacent to the Howard CTA station.
Spirit principal Scott Zwilling said, “This deal is perfectly aligned with our contrarian mindset of seeking tremendous value in resilient urban core markets that are being overlooked in response to fear caused by the COVID-19 pandemic. We’re content to let everyone else chase overpriced deals in the Sunbelt markets.”
Added Spirit principal Ian Hafner “This property was one of the best -performing assets in the submarket throughout the pandemic. With a few planned improvements to common areas and unit interiors, we’re confident the property will continue to flourish.”
- ◦Sale/Acquisition


