Eastham Capital Sells Central Park Apartments in Metro Chicago for $23.2M

FOREST PARK, ILL. — Eastham Capital has sold Central Park Apartments in Park Forest, a southern suburb of Chicago, for $23.2 million. Eastham acquired the 220-unit property for the portfolio of Eastham Capital Fund V LP in partnership with Bender Cos. in September 2019. At the time, Central Park Apartments marked the second collaboration between Eastham and Bender. To date, the companies have co-invested in 10 properties. Over the six-year hold period, ownership completed exterior renovations to Central Park Apartments, including parking lot resurfacing, sidewalk repairs and patio concrete upgrades. The property averaged more than 97 percent occupancy during the ownership period. The community at 11 Fir St. features a mix of one-bedroom units as well as two- and three-bedroom townhomes ranging from 724 to 1,326 square feet.