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WAUKEGAN, ILL. — A limited liability company organized by Colorado-based Monarch Investment and Management Group has acquired Northgate Apartments in Waukegan. The 363-unit REO property sold for $22 million or $60,606 per unit. Located at 2330 N. Samson Way, the 348,930-square-foot property features 15 one-bedroom/one-bath units, 45 large one-bedroom/one-bath units, 108 two-bedroom/one-bath units, 90 large two-bedroom/two-bath units, 90 extra-large two-bedroom/two-bath units and 15 three-bedroom/two-bath units. Additionally, the community features a clubhouse, a fitness center, a playground, a swimming pool and a tennis court. Scott Harris of Marcus & Millichap represented the seller, an East Coast-based lender, in the transaction.