Ryan Moore Of Bayshore Properties Acquires Aspen Ridge Apartments From M Group And Zinger Property Group For $45M
1440 South Neltnor Boulevard
$45,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Mar 18, 2026
AI
The property asset involved in the transaction is a multifamily complex known as Aspen Ridge Apartments, located at 1440 South Neltnor Boulevard in West Chicago. The asset spans an area of 11.5 acres and consists of 253 residential units, with a price per unit of $177,866, culminating in a total sale price of $45,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $45,000,000
- Address: 1440 South Neltnor Boulevard
- Market: West Chicago
- Acres: 11.5
- Units: 253
- Price Per Unit: $177,866
- Buyer: Ryan Moore - Bayshore Properties
- Seller: Josh Mondry - M Group; Carl Schirtzinger - Zinger Property Group
- Mortgage Broker: Greystone
This transaction highlights the involvement of key individuals, including Ryan Moore, who represented Bayshore Properties in the acquisition. The sellers comprised a joint venture team of Josh Mondry from M Group and Carl Schirtzinger from Zinger Property Group. The acquisition was financed through a $33 million Freddie Mac-backed mortgage arranged by Greystone, indicating a strategic move by Bayshore Properties to invest in value-add suburban multifamily assets.
Players
West Chicago MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93