Liberty Square Flats And Lorraine Court Apartments Sold In Wheaton For $15.35M

The transaction involved two multifamily properties located at 302 West Liberty Drive and 1110-1140 South Lorraine Road in Wheaton, Illinois. The sale price for the assets was $15,350,000, which corresponds to 38 total units, resulting in a price per unit of $403,947. The properties included Liberty Square Flats, consisting of 18 units and built in 2024, and Lorraine Court Apartments, comprising 44 units and built in 1972.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $15,350,000
• Units: 38
• Price Per Unit: $403,947
• Seller: Liberty Square Flats, LLC & LCA, LLC
• Brokers: Nathan Zito, Patrick Kennelly & Paul Waterloo - Interra Realty
• Market: Wheaton

Interra Realty facilitated the sales as 1031 exchange transactions. The sellers were Liberty Square Flats, LLC for the Liberty Square Flats property and LCA, LLC for the Lorraine Court Apartments, while the buyers remain undisclosed.