Illinois

AURORA, ILL. — MLG Capital has acquired Orchard Village, a 272-unit multifamily property in the western Chicago suburb of Aurora. The purchase price was undisclosed. Built in 2000, the community is located at 1240 W. Indian Trail. Amenities include a heated pool, clubhouse, fitness center and dog park. MLG acquired an interest in the property using 1031 exchange proceeds from its Legacy Fund, which offers a tax-deferred exit strategy for private real estate owners. Orchard Village marks MLG’s ninth acquisition in metro Chicago. The firm owns more than 1,700 units in Illinois.

CHICAGO — Interra Realty has brokered the sale of a three-building, 114-unit multifamily portfolio on Chicago’s South Side for $9.3 million. Two buildings, 7131 S. Bennett Ave. and 1949 E. 73rd Ave., are located in the South Shore neighborhood, while the third property, 6600 S. Ingleside Ave., is in the Woodlawn neighborhood. Lucas Fryman of Interra represented the buyer and seller, both based in Brooklyn, N.Y. The purchaser assumed the asset’s existing mortgage, which carries a 3.29 percent interest rate that matures at the end of 2032. Built in the early 1920s, the properties were 95 percent occupied at the time of sale. All three buildings have undergone capital improvements in recent years to include upgraded exteriors, building systems and unit interiors. The new ownership plans to continue the modernization with new appliances, fixtures and paint.

MIDLOTHIAN, ILL. — Marcus & Millichap has negotiated the sale of the Karlov & Keystone Portfolio, a 23-unit multifamily portfolio in Midlothian, a southwest suburb of Chicago. The sales price was undisclosed. Originally built in the 1960s, the properties are located along Karlov and Keystone avenues near I-294 and Route 57. Ryan Engle, Andrean Angelov, Sam Antreasian and Zack Mahoney of Marcus & Millichap represented the seller, a private investor. Engle, Angelov and Antreasian represented the buyer, a private investor.