August 17, 2017 Comments Off on Lowe Pays $81M for Glenview MF Views: 666 Illinois, Midwest, National News

Lowe Pays $81M for Glenview MF

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Los Angeles-based Lowe Enterprises Investors (LEI) acquired The Reserve Glenview, a 239-unit transit-oriented apartment community in Chicago in a joint venture with an undisclosed institutional investor for a reported $81 million. The seller was Chicago-based Focus Development.

LEI’s Andy Sands says, “The Reserve Glenview is a well-designed, new community with a prominent location in North Shore, one of the best performing rental markets in suburban Chicago. It provides easy access to the area’s major employers, and is steps away from public transit for commuting to downtown Chicago.”

The nearly 7.6-acre site at 195 Waukegan Rd. is immediately adjacent to the Golf Transit Metra Station, as well as a new retail center. The three-story buildings wrap around a center parking structure, and offer a variety of floor plans and units ranging from studio and one-bedroom up to spacious three bedrooms.

The acquisition boosts LEI’s Chicago multifamily portfolio to more than 1,000 units. Greystar will manage the property.

Read more at Business Wire

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