Essex Brokers $15M Sale of Multifamily Building in Suburban Chicago

PARK RIDGE, ILL. — Essex Realty Group Inc. has brokered the sale of The Parker in Park Ridge for $15 million. The 46-unit apartment building features two-bedroom floor plans. Amenities include a fitness center, car washing area, pet run and grilling area. A joint venture between CA Residential and Orchard Development Group developed the property in 2016. Jim Darrow, Jordan Gottlieb and Jordan Multack of Essex represented the developers in the sale. Doug Imber, Kate Verde and Clay Maxfield of Essex represented the buyer, a private investor completing a 1031 tax-deferred exchange.