Home Properties Buys Gates of Deer Grove for $20M

By GlobeSt News Hub

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PALATINE, IL-Rochester, New York-based Home Properties Inc. has paid $20.2 million for the Gates of Deer Grove, a 204-unit apartment complex at 125 W. Dundee Road in northwest suburban Palatine. Laramar Group LLC, an apartment investor based in Chicago, listed the property on the market this summer.

The sales price breaks down to approximately $99,000 per unit. The complex, constructed in 1974 and refurbished in 2008, was 98% occupied at closing. Laramar Group purchased the property in August 2006 for $15.5 million. For the full story, go to Crain's Chicago Business .

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Categories: Midwest, Sales, Acquisitions/Dispositions, , Scope, Chicago