May 26, 2021
CHICAGO – Transwestern Investment Group (TIG®) announces the sale of Midtown Square, a 215,000-square-foot multifamily asset at 998 Church St. in Glenview, Illinois. Located in the highly sought-after North Shore submarket, the community offers 138 one- and two-bedroom units and was 93% leased at the time of sale.
“Nationally, investor interest is strong for well-performing multifamily assets, and Midtown Square’s ‘main on main’ position in one of Chicago’s premier suburbs make it a highly attractive property,” said Clarke Crenshaw, Managing Director at TIG. “As the region recovers from the pandemic, this well-leased asset provides the new owner an opportunity to phase out concessions and grow effective rents.”
Offering efficient, open-concept floor plans and luxury finishes throughout, Midtown Square’s extensive amenities also include a clubroom with a Wi-Fi enabled coffee lounge, kitchen, billiards area and wine room; covered heated parking; a 24-hour fitness facility; business center; package concierge; dry cleaning service; bicycle storage room; and a pet washing station. Additionally, the property features 9,000 square feet of on-site retail, which was 100% leased at the time of sale.
Located within the market’s top school districts, Midtown Square is near many of the city’s major employers, including those in the biopharmaceutical, insurance, industrial and banking industries. Only 20 miles from downtown Chicago, residents have convenient access to highways and public transportation options.
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About Transwestern Investment Group
Transwestern Investment Group (TIG®) is a real estate investment adviser with $6.3 billion of assets managed since inception. The firm serves a broad range of institutional and high-net-worth clients with its full-service investment management and Transwestern’s integrated operating platform.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, and investment management. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
This document does not constitute an offer, solicitation or recommendation to sell or an offer to buy any securities, investment products or investment advisory services. Any offer or solicitation will be made only pursuant to a confidential private placement memorandum and subscription documents (the “Offering Materials”) and will be subject to the terms and conditions contained in such Offering Materials.
The clients included in this press release were not selected based on performance, but because they are some of the largest well-known clients with similar strategic alliances. It is not known whether these clients approve or disapprove of TIG or the services or products it provides.