(To read more on the multifamily market, click here.)

PALATINE, IL-The 612-unit Bourbon Square rental complex at LakeCook and Hicks roads, just west of Route 35, is being converted tofor-sale condos. Naperville-based Marquette Cos., in joint venturewith Chicago-based Concert Realty Advisors as equity partner,acquired the property from Equity Residential this February.

According to public records, Marquette paid $80 million for theasset, which is 95% occupied and was built in 1985. The new owneris investing more than $10 million to renovate the grounds andon-site amenities, including the clubhouse, where it is addingfitness and media centers and a cyber cafe.

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