LAKE BLUFF, IL- Prime Property Investors, basedin Northbrook, IL, has put up for sale the 224-unit DeerValley Luxury Apartment Homes here in the tonyNorth Shore area, and expects to get about $33million. The firm expects a quick turnaround and profit from itspurchase of the complex last year.

The garden-style complex, 13 buildings of 120 one-bedroom unitsand 104 two-bedroom units, was built in 1991 by locally basedResidential Homes of America. PPI purchased theapartments for $21.9 million in 2011, co-CEO BarbaraGaffen tells GlobeSt.com.

However, she says more than 50% of the units have beenoverhauled, with new finishes, stainless steel appliances, granitecountertops and vinyl flooring in the kitchens and bathrooms. Therenovation of the remaining units is ongoing, Gaffen says. “It was95% occupied when we bought it, and now it’s completely full,” shesays. “The market in the area is about $140,000 to $200,000 perdoor for class A apartments, and we think it will sell for at least$150,000 per door. We’re also debt-free.”