Illinois

WESTMONT, ILL. — A joint venture between a fund managed by DRA Advisors LLC and Marquette Cos. has acquired Westmont Village Apartments, a 558-unit apartment community in Westmont, about 20 miles west of Chicago. The purchase price was not disclosed. The property consists of 31 buildings. Units average 1,100 square feet. The seller, Long Wharf Capital LLC, recently completed unit renovations and constructed a new resident clubhouse with a fitness center, outdoor swimming pool, dog park and picnic area. Kevin Girard, Marty O’Connell, Sean Fogarty and Wick Kirby of HFF represented the seller.

VERNON HILLS, ILL. — FPA Multifamily LLC has acquired The Commons at Town Center in the North Shore community of Vernon Hills for an undisclosed price. The property consists of 85 apartment units and more than 10,000 square feet of ground-floor retail space leased to Sam Martirano Salon & Spa, Hawthorn Dental Associates, Design Studio Jewelry, Eight Piece and Giuseppe’s Pizza. Completed in 2010, the six-story property is located just northwest of Highway 45 and North Milwaukee Avenue. Community amenities include a heated parking garage, fitness center, hospitality room and resident lounge. Both the residential and retail components are fully leased. Wick Kirby, Sean Fogarty, Marty O’Connell and Kevin Girard of HFF marketed the property on behalf of the seller, Inland Residential Properties Trust Inc. The team also procured the buyer.

EVERGREEN PARK, ILL. — Interra Realty has brokered the sale of Riviera Apartments for $6.6 million. The 84-unit apartment property is located at 9739 S. Kedzie Ave. in Evergreen Park, approximately 15 miles south of Chicago. Built in 1968, the property includes three buildings. James Clough of Interra represented both the buyer and the seller. The buyer plans to make interior renovations, including new kitchens and baths, in order to boost rents to the market rate.

CHICAGO — Pacific Reach has acquired Linea, a newly constructed 265-unit apartment building in downtown Chicago. The 33-story luxury property, completed in mid-2017, features a mix of studio, one-, two- and three-bedroom floor plans as well as nearly 5,000 square feet of ground-floor retail space. Situated at 215 W. Lake St., the building has a Walk Score of 98 due to its proximity to top employers and retail. Walk Score is a number between 0 and 100 that measures the walkability of any address. The top two floors are dedicated to amenity space, including a sky lounge, pool with hot tub, fitness center and yoga studio, lounge areas, outdoor terraces, conference rooms and a media room. Sean Fogarty, Marty O’Connell, Wick Kirby and Kevin Girard of HFF marketed the property on behalf of the seller, a partnership between LaSalle Investment Management Inc. and Moceri + Roszak LLC. The sales price was not disclosed. Linea is a play off of the word “linear.”