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FPA Multifamily acquires Chicago-area apartment complex for $51 million

Wheeling, Illinois, property sells for $134,921 per unit
The newly renamed ReNew Lake Arlington apartment complex in Wheeling, Illinois, was acquired for approximately $135,000 per unit. (CoStar)
The newly renamed ReNew Lake Arlington apartment complex in Wheeling, Illinois, was acquired for approximately $135,000 per unit. (CoStar)
By Alex Collie with
CoStar Research
February 17, 2026 | 10:04 P.M.

FPA Multifamily acquired a 378-unit apartment complex in Wheeling, Illinois, from a private investor for $51 million, or approximately $134,921 per unit.

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News | FPA Multifamily acquires Chicago-area apartment complex for $51 million