Greg Fowler Of FPA Multifamily Acquires Multifamily Asset At 850 Corey Lane In Wheeling For $51M

The property involved in the transaction is a multifamily apartment complex located at 850 Corey Lane in Wheeling. The asset comprises 378 units and was sold for a total price of $51 million, translating to a price per unit of $134,921.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $51,000,000
• Buyer: Greg Fowler - FPA Multifamily
• Seller: Mark Manda
• Units: 378
• Price per Unit: $134,921

FPA Multifamily, represented by Greg Fowler, acquired the property following the exit of the longtime Manda family owners from the market. This transaction reflects FPA's increasing presence in the suburban multifamily sector of Chicago, where the demand for investments continues to rise due to limited new construction and escalating rents.