April 29, 2019
CBRE recently represented Greenwood Capital Investment LLC in the sale of Autumn Chase Apartments, a 550-unit multifamily property in Hoffman Estates, IL, to Tricap Acqisitions LLC.
Deal terms were not disclosed, but Crain’s Chicago Business reported that the property was valued at about $60 million.
John Jaeger and Dan Cohen of CBRE represented Greenwood. “This is a great value-add opportunity for new ownership,” said Jaeger, EVP with CBRE. “With a lack of luxury product in the area, reinvesting in unit and community upgrades will be well received.”
Autumn Chase was completed in the early 1970s. It contains a mix of studio, one-bedroom and two-bedroom units, and features an outdoor pool with a sun deck, a tennis court, a clubhouse and multiple barbeque areas.
The property is located within minutes of the popular Woodfield Mall in nearby Schaumburg, and has convenient access to Interstates 90 and 290 and Route 53.
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