Illinois

AURORA, ILL. — MLG Capital has acquired Orchard Village, a 272-unit community situated in the western Chicago suburb of Aurora. MLG acquired an interest in the property using 1031 exchange proceeds from its Legacy Fund, which offers a tax-deferred exit strategy for private real estate owners. The sale price was not disclosed. Orchard Village was built in 2000 and is located at 1240 W. Indian Trail. The community offers amenities such as a pool, dog park, clubhouse and fitness center.

MOLINE, ILL. — A partnership consisting of ARTISAN Capital Group, Ballast Real Estate Partners and Boulder Venture has acquired Pheasant Ridge, a 216-unit community in the western Illinois city of Moline. The unit mix includes 72 one-bedroom and 144 two-bedroom apartments. The community has been rebranded as Rock Ridge Commons. The buyers plan to invest $8 million into renovating the property. Capital improvements will begin by addressing deferred maintenance, followed by renovations to all units, as well as the clubhouse and common areas. The new owners will also install a …

CHICAGO — Interra Realty has brokered the sale of a 30-unit property located at 2827-2847 N. Clybourn Ave. in Chicago’s West Lakeview neighborhood. The community was more than 95 percent occupied at the time of sale. The property also features six commercial spaces. The building features a heated indoor parking garage for 34 vehicles and an additional 12 exterior spaces for the commercial units. The building traded hands for $12.7 million. Brad Feldman of Interra Realty represented the seller, a private local investor, in the deal. Patrick Kennelly and Paul …

PLAINFIELD, ILL. — Wingspan Development Group has sold Sixteen30, a 284-unit property in Plainfield, approximately 40 miles southwest of Chicago. The property was 95 percent occupied at the time of sale. Continental Properties was the buyer. Sixteen30 opened in August 2021. Situated at 14750 Wallin Drive, the garden-style community comprises eight buildings surrounding a 7,500-square-foot clubhouse and pool. The clubhouse was designed by Eleni Interiors and includes a great room, coffee bar, fitness center, yoga studio, co-working space, demonstration kitchen, pet spa and package room. Units range from 600 to …