Northmarq arranges $28.6M sale of 354-unit multifamily community
LANSING, Ill. — Northmarq’s Midwest Multifamily Investment Sales team led by Alex Malzone, Parker Stewart, Dominic Martinez and Jake Lamb completed the $28.6 million sale of Riverwood Apartments, a 354-unit multifamily property located at 3649 173rd Court in Lansing, Illinois.
Northmarq represented the seller, a California-based private investment group. The buyer was SRG Living Inc.
"Our team is pleased to close our third deal in Illinois with SRG Living over the last few years as they continue to build their footprint in the Midwest,” said Malzone. “The high leverage loan assumption at a below market interest rate was very attractive, given the recent volatility in the capital markets.”
Riverwood Apartments is a well‑established multifamily community offering a mix of one‑, two‑ and three‑bedroom apartment homes and townhome‑style residences. The property features select homes and an array of community amenities — including a clubhouse, playground, laundry facilities, storage lockers and more.
Its location near major roadways and retail corridors provides convenient access throughout the south suburban Chicago area, appealing to renters seeking space, value and accessibility.
Meet our team
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 $80 billion and has completed $91.3 billion in transactions over the past fours years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
