PARK FOREST, ILL. — Eastham Capital has sold Central Park Apartments in the Chicago suburb of Park Forest for $23.2 million. Crain’s Chicago Business reports that the buyer was GoldOller and Chase Chavin
The 220-unit property was acquired for the portfolio of Eastham Capital Fund V in partnership with Bender Cos. in September 2019. Central Park Apartments was the second collaboration between Eastham and Bender. To date, the partners have co-invested in 10 properties together.
Under Bender’s management, the joint venture completed an exterior improvement plan at the property that upgraded areas such as the parking lot and sidewalks. Eastham Capital is a Boca Raton, Florida-based value-add investor. Bender Cos. is a Chicago-based owner-operator.