Loboda Buys 173-Unit Chicago Asset
Marcus & Millichap brokered the deal.
California-based Loboda Properties has acquired Mallard Point Apartments, a 173-unit multifamily property in Channahon, Ill. The company paid $24.6 million for the Chicago-area asset—about $142,341 per unit.
Marcus & Millichap brokered the deal. At the time of sale, the property was 99 percent occupied.
The buyer assumed the existing HUD loan, which according to Yardi Matrix, amounted to $16 million originally and was issued in 2015. A private individual sold the asset, the same data provider shows, after acquiring it in 2007 for $10.2 million.
Located at 27741 W. Drake Drive, Mallard Point Apartments has access to Interstate 80 and several dining options, and is 3 miles away from the city center. Downtown Chicago is 53 miles away.
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The two-story, 13-building community came online in 2003 on 22 acres. The unit mix comprises one- and two-bedroom floorplans ranging from 766 to 1,143 square feet. Apartments have private balconies or patios and walk-in closets.
Common-area amenities include volleyball, tennis and basketball courts, a clubhouse and a business center. The community also has a swimming pool, a fitness center and more than 320 parking spaces.
Marcus & Millichap Senior Managing Director Scott Harris and Senior Director Sam McCarthy represented Loboda Properties in the deal.
Chicago multifamily sales on the rise
Chicago’s multifamily sales reached $3.6 billion last year, from the 86 assets—almost 15,800 apartments—that were sold, according to Yardi Matrix information. The figure was 35 percent above the one registered in 2024, when 72 communities—almost 13,260 units—changed hands for roughly $2.7 billion. Additionally, in the first half of 2025, the metro ranked fifth in the U.S. for multifamily transaction volume.
In December, Apartment Investment and Management Co. entered into a definitive agreement to sell a 1,495-unit multifamily portfolio in metro Chicago for $455 million. LaTerra Capital Management and Respark Residential will acquire the seven properties, with the deal expected to close this quarter.
A few months earlier, a joint venture between Standard Real Estate Investments LP and The Vistria Group purchased Fox Valley Villages, a 420-unit property in Aurora, Ill., for $93.2 million. Bridge Investment Group sold the asset after holding it for four years.
