Willowbrook Apartments Find New Owner
- Sep 28, 2015
Senior Vice President of Investments Scott Harris and Associate Nick Hillard of the broker’s Chicago Oak Brook office represented the seller—Fannie Mae REO—and also procured the buyer—Minneapolis-based Heartland Realty Investors.“The acquisition of Willowbrook Apartment Homes provides the new owner with an excellent opportunity to improve the asset’s net income through the completion of a renovation program that began several years ago,” said Harris.
Built in 1967, Willowbrook Apartment Homes offers a mix of one-, two- and three-bedroom units just minutes away from the Midway International Airport and the I-88 corridor. The asset was extensively renovated during the past year, and features amenities such as 370 grade level parking spaces, on-site management, laundry facilities and 24/7 emergency maintenance.Image courtesy of Yardi Matrix