Wednesday, September 28, 2022
HomeMarketsMidwestConnor Group hires Newmark to sell Wheaton 121 apartments

Connor Group hires Newmark to sell Wheaton 121 apartments

The strong suburban investment market has paid off already for Connor, which recently sold Tapestry Glenview, a 290-unit property in Northbrook for $97 million about five years after buying it for $81.4 million. In June 2021, Connor also cashed out of Glenmuir of Naperville for $104 million, up from $61.8 million that it paid for the 321-unit complex in 2014.

After selling Wheaton 121, Connor will own just one multifamily property in the Chicago area: Stonebridge of Arlington Heights, with 586 apartments.

Representatives of Connor, which is based in suburban Dayton, and Newmark did not respond to requests for comment.

Newmark is marketing Wheaton 121 without an asking price. Connor paid $72 million, or about $235,000 per unit, in October 2018 for the building, which opened in 2014. Newmark is pitching its location at 121 N. Cross St., a short walk to a Metra station, as a…

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