Standard Communities Acquires Lincoln Park & Bolingbrook Multifamily For $110M

The multifamily property located at 2757 North Pine Grove Avenue in Lincoln Park and 503 Kildeer Drive in Bolingbrook has been sold for a total price of $110,000,000. The property consists of 466 units, translating to a price per unit of $236,051. The sale was completed on January 3, 2023.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $110,000,000
• Address: 2757 North Pine Grove Avenue, Lincoln Park & 503 Kildeer Drive, Bolingbrook
• Market: Lincoln Park & Bolingbrook
• Buyer: Standard Communities - Jeff Jaeger & Scott Alter
• Seller: David Katz
• Units: 466
• Price per Unit: $236,051

The transaction was facilitated by Jeff Jaeger and Scott Alter representing Standard Communities as the buyers' representatives. David Katz acted as the seller in this deal.