Asset manager Nuveen paid nearly $103 million for a large apartment complex in Chicago’s northern suburbs.
An affiliate of the Chicago-based firm bought the 336-unit Oaks of Vernon Hills at 103 Oak Leaf Lane from a joint venture of Azure Partners and Harbor Group International. The deal was recorded in Lake County public records earlier this month.
Nuveen did not immediately respond to a request for comment.
The Azure and Harbor venture bought the property in 2018 for $94 million.
The sale is a win for Azure and Harbor Group in an area where another seller recently took a loss. LaSalle Investment Management sold the 248-unit asset at 15 Parkway North Boulevard in Deerfield at a 20 percent loss from its previous sale price this spring.
This is a developing story. Check back for updates.
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Asset manager Nuveen paid nearly $103 million for a large apartment complex in Chicago’s northern suburbs. An affiliate of the Chicago-based firm bought the 336-unit Oaks of Vernon Hills at 103 Oak Leaf Lane from a joint venture of Azure Partners and Harbor Group International. The deal was recorded in Lake County public records earlier
The post Nuveen pays $103M for Vernon Hills apartments appeared first on The Real Deal. Uncategorized, Breaking, Breaking News, Multifamily Market, Suburban Chicago The Real Deal Read More
Lead by real estate veteran Robert Khodadadian, Skyline Properties has been instrumental in many multi-million dollar commercial developments, including a $12 million contract for the White House Hotel, a 99-year ground lease of a four-story commercial site in Harlem, and a retail co-op on Prince St. for $50 million.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.