SRG Living Inc. Acquires Riverwood Apartments From Robert Imhoff For $28.6 Million In Lansing, IL

The transaction involved the acquisition of Riverwood Apartments, a multifamily community located at 3649 173rd Court in Lansing, Illinois. This 354-unit property was sold for $28.6 million, reflecting a price per unit of $80,791. The property was constructed in 1974 and offers one- to three-bedroom units along with basic amenities.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $28,600,000
• Units: 354
• Price Per Unit: $80,791
• Buyer: SRG Living Inc.
• Seller: Robert Imhoff
• Brokers: Alex Malzone, Parker Stewart, Dominic Martinez & Jake Lamb - NorthMarq

This acquisition was executed with the guidance of NorthMarq, the brokerage firm representing both parties in the transaction. The seller was an investor group headed by Robert Imhoff, who sold the asset significantly below its 2022 purchase price.