Jason Weiss Acquires Buffalo Creek Apartments In Buffalo Grove For $25.3M

Jason Weiss acquired the 154-unit Buffalo Creek Apartments in Buffalo Grove, Illinois for $25.3 million. The property, located at 70 South Buffalo Grove Road, is a multifamily asset. The sale price translates to a per unit price of approximately $164,286.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $25,300,000
• Address: 70 South Buffalo Grove Road
• Market: Buffalo Grove
• Units: 154

Jason Weiss assumed the existing mortgage with a fixed interest rate of 4.67% for Buffalo Creek Apartments. The mortgage is valid until August 2033. This acquisition highlights the strong demand for suburban apartments, particularly older workforce housing properties, as rental rates in the suburbs continue to rise.