crefeed.com | Hendricks & Partners negotiate sale of West Chicago's Aspen Ridge

2/22/2008

Hendricks & Partners negotiate sale of West Chicago's Aspen Ridge

by
Omaha, Neb.-based Marina Partners Limited Partnership has sold the Aspen Ridge Apartments in West Chicago, Ill., to a LaGrange-based private investor. The terms of the deal were undisclosed but the building sold for $10 million in August 2000, according to Winfield Township property records.

The property was marketed and sold by Ralph DePasquale and Bill Montana of Hendricks & Partners' Chicago office.

Aspen Ridge is located at 1440 South Neltnor Blvd. and sits on 11.5 acres. It was built in 1969 and contains 253 units, which are made up of one and two-bedroom apartments. The complex is comprised of 10 two and three-story buildings.

Last month, DePasquale represented Lincoln National Life Insurance in the $39.2 million sale of the Thornberry Woods Apartments in Naperville, Ill. He also teamed with Montana to sell the Park Place Apartments in the Chicago suburb of Hoffman Estates for $66 million.

Address: 1440 South Neltnor Blvd., West Chicago, Ill.

Size: 253 units

Built: 1969

Filed Under: Multi-Family

E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us

Comments on this article

No comments have been posted in the last 15 days!

Send us your comments on this article

Related Headlines

Colliers International welcomes three brokers in California - 5/29/2009
Texas hotel sells for $4.275M - 5/29/2009
Massey Knakal lists NoHo retail building for $5.95M - 5/29/2009
California industrial building sells for nearly $3 million - 5/29/2009
NAI facilitates sale of Alaska mixed-use building - 5/28/2009
Long Beach retail center commands $6.05M - 5/28/2009
Florida land fetches $2.725M - 5/28/2009
Marcus & Millichap list Virginia retail store for more than $10.2M - 5/28/2009
Colliers Arnold stays busy in Tampa - 5/27/2009
Colliers sells two buildings in California - 5/27/2009