High Street Residential, The Carlyle Group Sell 115-Unit Apartment Community in Chicago Suburb

by Christina Cannon

PARK RIDGE, ILL. — A joint venture consisting of High Street Residential and The Carlyle Group has sold a 115-unit apartment community to L&B Realty Advisors LLC for an undisclosed price. Park 205 is a three-story, Class A apartment community located in Park Ridge, a northwestern suburb of Chicago. ESG Architects designed Park 205, which was completed in the last quarter of 2015. The project offers one-, two- and three-bedroom units. Amenities include a pool and sun deck, outdoor fire pits and cabanas, a clubroom, Wi-Fi coffee lounge, fitness center, business center, dog spa, bicycle storage and covered and heated parking. The community also has the LEED Silver designation. John Jaeger of CBRE represented the joint venture in the transaction.

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