An apartment complex northwest of Chicago that has sold for more than $139 million is more than a record price for the city’s sprawling suburban area. It also marks a huge bet on an increasing sentiment in commercial real estate that rising interest rates and an uncertain economy will keep bolstering the rental market.
This Deal Is More Than Just a Record Apartment Sale. It’s a Bet Higher Interest Rates Will Boost Multifamily Property Values.
Albion Residential’s Acquisition in Chicago Suburb of Palatine Is Second Top Price Paid Near the City This Year
By Ryan Ori
CoStar News
July 12, 2022 | 6:40 P.M.
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IN THIS ARTICLE
- Properties
- Albion on Lake Cook
500 Constitution Dr, Palatine, IL
- Companies
- Albion Residential
Real Estate
- Broadshore Capital Partners
Real Estate