Northmarq arranges sale of Central Park Apartments & Townhomes

Central Park Apts & Townhomes
Investment Sales - Multifamily
Multifamily
Sale
Townhome
apartments and townhomes

PARK FOREST, Ill. — Northmarq’s Midwest Multifamily Investment Sales team of Alex Malzone, Dominic Martinez, Parker Stewart and Jake Lamb brokered the sale of Central Park Apartments & Townhomes, a 220-unit multifamily community in Park Forest, Illinois.

Northmarq represented the seller, Bender Companies. The buyer was a joint venture between a local private group and East Coast-based investment fund.

"This offering received interest from investors across the country as the Chicago suburbs continue to see strong rent growth and limited new development. Most buyers in today’s market are looking for Class A/B product, but we were pleased to generate double-digit offers for Central Park,” said Malzone.

Built in 1946 and renovated in 2009, Central Park is located in a desirable suburban Chicago submarket. The property offers one-bedroom apartment homes as well as two- and three-bedroom townhomes with hardwood floors, ample storage and walk-in closets.

Central Park is situated just 25 miles south of the Chicago Loop and steps from dining and shopping in downtown Park Forest. 

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About Northmarq 
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
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