Kurt Bender Of Bender Companies Acquires 85-Unit Multifamily Complex In Vernon Hills For $11M

The property involved in this transaction is an 85-unit apartment complex known as Arrive at Town Center, located at 1255 Town Center Road, Vernon Hills, Illinois. The asset was sold for $11 million, translating to a per-unit price of $129,412. The property also included the assumption of a $16.8 million loan as part of the transaction.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $11,000,000
• Buyer: Kurt Bender - Bender Companies
• Seller: Greg Fowler - FPA Multifamily
• Broker Team: Bill Baumann, Kevin Girard & Zachary Kaufman - JLL
• Units: 85
• Loan Assumption: $16,800,000

FPA Multifamily, while engaged in a substantial acquisition strategy in Chicago, executed this sale as a rare divestment. The company's total investment in this particular property scenario reached nearly $28 million when factoring in the loan assumption.