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Michael Dobrov's United Group Development Acquires Multifamily Property In Elk Grove Village For $56.75M

Property Image
SOLD
$56,750,000
MC
MD

Illinois

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MultiFamily480,000 SF
Sold 02/01/2022
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Property Image
SOLD

Michael Dobrov's United Group Development Acquires Multifamily Property In Elk Grove Village For $56.75M

912 Ridge Square, Elk Grove Village, Illinois 60007, United States

See Similar Deals
MultiFamily480,000 SF
Sold 02/01/2022
MC
MD
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$118
Total Square Footage:480,000 SF
Transaction Type:Sale

The multifamily property located at 912 Ridge Square in Elk Grove Village has been sold. The transaction took place on February 1, 2022, and was facilitated by Michael Dobrov from United Group Development and Sean and Matt Conley from 33 Real Estate.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $56,750,000
  • Address: 912 Ridge Square
  • Market: Elk Grove Village

The property consists of 427 units with an average price per unit of $132,904. It spans across 480,000 square feet, resulting in a price per square foot of $118. The seller of the property was The Terrace.

Michael Dobrov, representing United Group Development, expressed interest in continually expanding their multifamily portfolio, indicating a strong appetite for further opportunities.

Players

MC
Matt Conley
1 deal$56.8M volume
BROKER
33 Realty
33 Realty
BROKERAGE
MD
Michael Dobrov
2 deals$113.6M volume
BUYER

Details

SOLD
IMAGE: Michael Dobrov DATE: 02/01/2022 ADDRESS: 912 Ridge Square MARKET: Elk Grove Village ASSET TYPE: Multifamily BUYER: Michael Dobrov - United Group Development (@United_Group_Development) SELLER: The Terrace BROKER: Sean and Matt Conley - 33 Real Estate SALE PRICE: $56,750,000 UNITS: 427 ~ PPU: $132,904 SF: 480,000 ~ PPSF: $118 NOTE FROM BUYER: The buyer was asked are you still looking for more multi family opportunities? Michael Dobrov‘s response was we are always looking to add to our portfolio

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