Anemone Real Estate Acquires 71-Unit Multifamily Property In Mount Prospect For $23 Million

20 West Northwest Highway is a 71-unit Class A multifamily property located in Mount Prospect, Illinois. The property was sold for $23,000,000, reflecting a per-unit price of $323,944. It was built in 2019 and is currently 94% leased, being situated across from a Metra station, contributing to its desirability in the market.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $23,000,000
• Units: 71
• PPU: $323,944
• Buyer: Anemone Real Estate
• Seller: Wingspan Development Group
• Brokers: Paul Waterloo, Patrick Kennelly & Nathan Zito - Interra Realty

Interra Realty facilitated the transaction, representing both the buyer, Anemone Real Estate, and the seller, Wingspan Development Group. The deal showcases continued investor interest in newer suburban Chicago apartments, highlighting the asset's strong occupancy and steady rent growth, which are appealing attributes for multifamily investments.