Investment Sales

CHICAGO — Interra Realty has arranged the sale of two properties in northwest Chicago totaling $4.7 million. The two-building, 16-unit 1860-1900 N. Parkside Drive in Park Ridge sold for $2.75 million, and the 12-unit 8544-48 W. Gregory St. in Chicago’s O’Hare submarket transacted for $1.9 million. Interra’s Patrick Kennelly, Paul Waterloo and Nathan Zito represented both the undisclosed buyer and seller of 1860-1900 N. Parkside. Kennelly, Waterloo and Zito also represented the undisclosed partnership seller of 8544-48 W. Gregory, with Oleg Komarnytskyy of KOMAR Real Estate representing the private buyer. Both …

ARLINGTON HEIGHTS, ILL. — Marquette Cos. has acquired Orion Arlington Lakes, a 198-unit community in Arlington Heights, 25 miles northwest of Chicago. Immediate plans for the community include a rebranding to Avery at Arlington Lakes and the launch of value-add renovations of units and amenities, which include the construction of a new fitness center. As part of the transaction, Marquette Management will take over property management. Twenty-five percent of the units already have been renovated. The seller and sales price were not disclosed. Originally constructed in 1985, the property comprises …

OAK PARK, ILL. — Draper and Kramer has acquired Eleven33, a 263-unit property in Oak Park, about 10 miles west of downtown Chicago. The firm also will assume management of the property. Eleven33 was 95 percent leased at the time of sale and has averaged 94.4 percent occupancy since January 2024. It includes studio, one-, two- and three-bedroom units, with monthly asking rents currently starting at $1,945. Select floor plans feature a private balcony or terrace or access to a shared terrace. Amenities include a 24-hour fitness center with yoga …