CHICAGOHigh Street Residential, the residential subsidiary of Trammell Crow Co., and joint venture partner the Carlyle Group have just made a quick and lucrative sale of Park 205, the three-story luxury apartment community they recently completed in suburban Park Ridge, to L&B Realty Advisors, LLC.

The price was not disclosed, but Cook County records show the property went for $48.25 million. The energetic leasing activity that preceded the sale certainly helped push up its value and shows that while tenants have been flocking to downtown residential properties, many suburban developments also show great promise.

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