Orion Residential Acquires Multifamily Property In Elk Grove, IL For $32.25M

Located in Elk Grove, Illinois, the multifamily property at 951 Charlela Lane has recently been sold. The transaction took place on January 11, 2022, with Orion Residential's Daniel Gumbiner as the buyer and Burton LLC as the seller. The sale price for this property was $32,250,000. The asset consists of 192 units, with a price per unit (PPU) of $167,969.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $32,250,000
• Units: 192
• Price Per Unit (PPU): $167,969
• Buyer: Orion Residential - Daniel Gumbiner
• Seller: Burton LLC

Daniel Gumbiner, representing Orion Residential, played a significant role as the buyer in this transaction. On the other hand, Burton LLC acted as the seller. The property at 951 Charlela Lane in Elk Grove, Illinois, attracted attention with its 192 units and a sale price of $32,250,000. This successful sale highlights the demand for multifamily assets in this market.