Turner Impact Acquisition is Reportedly Chicagoland’s Biggest Multifamily Deal 

(Updated with additional information)

Turner Impact Capital has acquired its fourth Chicago-area multifamily community, the 1,155-unit Ellyn Crossing Apartments in Glendale Heights, IL. Reportedly it’s the largest suburban Chicago apartment deal on record at $137 million. JLL senior director Kevin Girard and senior managing director Marty O’Connell represented the seller.  

With this acquisition, the firm’s housing portfolio now includes nearly 2,800 units in the Chicagoland area and more than 11,200 units of workforce housing in metropolitan areas throughout the nation, serving more than 18,600 low- and moderate-income residents.  

“As Americans face double-digit rent increases in markets nationwide, along with limited housing supply and uncertainty surrounding the pandemic, our need for housing solutions is more urgent than ever,” said Turner Impact Capital CEO Bobby Turner. “Our scalable investment model has uplifted communities far and wide by putting affordable, quality housing within reach for thousands of families while generating strong risk-adjusted returns for investors. The model proves that profits and purpose can – and indeed should – coexist.”