Robert Khodadadian In The News Nuveen pays $103M for Vernon Hills apartments

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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The Real Deal Uncategorized, Breaking, Breaking News, Multifamily Market, Suburban Chicago 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
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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.

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