June 11, 2019
An Essex Realty Group team has arranged the sale of The Parker, a 46-unit, new construction rental property in Park Ridge, IL. Developed by a joint venture of CA Residential and Orchard Development Group, the property sold for $15,075,000.
“It’s rare to have a multifamily property go up for sale in Park Ridge, let alone a newly-constructed one within walking distance to downtown and public transportation,” said Jim Darrow, principal with Essex Realty.
Darrow, Jordan Gottlieb and Jordan Multack represented the JV. Essex Realty’s Doug Imber, Kate Varde and Clay Maxfield advised the buyer, a private investor in a 1031 exchange.
The Parker was completed in 2016. It’s within walking distance of downtown as well as the Park Ridge Metra Station.
The Connect Apartments Conference will take place June 20, 2019 in Los Angeles. For more information, or to register, click here.
For comments, questions or concerns, please contact Paul Bubny