ELGIN, IL-A 408-unit multifamily rental complex here as well as 174 units in neighboring Hoffman Estates have changed hands in separate transactions totaling nearly $43 million. Hunter’s Ridge at 1009 Big Timber Rd. commanded a $25-million price while Morningside on the Green Apartments at 1800 Huntington Blvd. in Hoffman Estates traded at $17.6 million, or more than $100,000 per unit.

Marquette Property Investments, Inc. of Romeoville acquired Hunter’s Ridge at $61,274 per unit from St. Louis-based MREF II Property III, LLC, which began a renovation of the property that will be finished by the new owner. A condo converter bought Morningside on the Green from Schaumburg-based Western Management Financial.

Ralph DePasquale and Bill Montana of Hendricks & Partners represented MREF II Property III, LLC. Lee Kiser of Marcus & Millichap Real Estate Investment Brokerage Co.’s Kiser Group and James Walsh represented Western Management Financial in negotiations with Nicholas Manganais, another Marcus & Millichap broker.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.