Via Evanston Now:
The pension fund TIAA-CREF has closed on its purchase of the 10-year-old Park Evanston rental apartment tower at 1630 Chicago Ave. from the John Buck Company. The sale price of the 24-story structure—$101,125,000—is reportedly the highest price ever paid for a suburban apartment building. The transaction late last month brings an immediate real estate transfer tax benefit to the city of $505,625 in what has otherwise been a slowing market for property sales.
The pension fund TIAA-CREF has closed on its purchase of the 10-year-old Park Evanston rental apartment tower at 1630 Chicago Ave. from the John Buck Company.
The sale price of the 24-story structure—$101,125,000—is reportedly the highest price ever paid for a suburban apartment building.
The transaction late last month brings an immediate real estate transfer tax benefit to the city of $505,625 in what has otherwise been a slowing market for property sales.
This interests me because it's right across the alley from where I'm sitting:
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