Stonegate Apartment Community Sells For $71 Million
15 Nov, 2005, Chicago, IL
The recently formed Multifamily Group at Cushman & Wakefield of Illinois, Inc. has completed the $71 million sale of Stonegate Apartments, an 1,156-unit community situated on 66 landscaped acres in Glendale Heights.
Cushman & Wakefield Senior Director John Simon along with Directors Paul De Kruiff and Brian Pohl acted as agents in the transaction.
Stonegate represents an outstanding condominium conversion opportunity - Historically low interest rates have driven Chicago's average home prices (up 14.6%) and have fueled the successful condo conversion of several nearby apartment communities over the past 12 months.
Cushman & Wakefield is the world's largest privately held real estate services firm. Founded in 1917, the firm has 189 offices in 57 countries around the globe, and 11,000+ talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. C&W also provides valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133.