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Heartland Realty Investors Inc. Acquires Multifamily Asset From Marquette Companies For $45.5 Million

Property Image
SOLD
$45,500,000
Dominic Martinez
Alex Malzone
+ 1

Illinois

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MultiFamily177,649 SF
Sold 06/10/2025
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Property Image
SOLD

Heartland Realty Investors Inc. Acquires Multifamily Asset From Marquette Companies For $45.5 Million

1920 Chestnut Avenue

See Similar Deals
MultiFamily177,649 SF
Sold 06/10/2025
Dominic Martinez
Alex Malzone
+ 1
Contact now

Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$256
Total Square Footage:177,649 SF
Transaction Type:Sale

The property asset involved in this transaction is a multifamily building located at 1920 Chestnut Avenue in Glenview. The sale amount for this asset is $45,500,000, encompassing a total of 112 units, resulting in a price per unit of $406,250.

Summary of transaction details:

This transaction was facilitated by a team of brokers comprising Alex Malzone, Parker Stewart, Dominic Martinez, and Jake Lamb, representing the buyer and seller in the deal. Their collaboration contributed to the successful closing of this multifamily property in the Glenview market.

Players

Parker Stewart
11 deals$583.3M volume
BROKER

Alex Malzone
NorthMarq
11 deals$583.3M volume
BROKER

Dominic Martinez
NorthMarq
8 deals$364.5M volume
BROKER

Jake Lamb
NorthMarq
5 deals$212.9M volume(312) 651-5411
BROKER

NorthMarq
BROKERAGE

Details

SOLD
IMAGE: Alex Malzone, Parker Stewart, Dominic Martinez & Jake Lamb DATE: 06/10/2025 ADDRESS: 1920 Chestnut Avenue MARKET: Glenview ASSET TYPE: Multifamily BUYER: Heartland Realty Investors Inc. SELLER: Marquette Companies BROKERS: Alex Malzone (@AlexMalzone), Parker Stewart, Dominic Martinez & Jake Lamb - NorthMarq (@NorthMarq) SALE PRICE: $45,500,000 UNITS: 112 ~ PPU: $406,250

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,426,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$161,651.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$215,693.21
Annual Debt Service$2,588,318.56