Real Estate
Wheaton Apartment Complex Sells for $93 Million
Investco Ltd., based in Atlanta, has bought Amli at Danada Farms, which is now called the Crossings at Danada, for $93 million.
Atlanta-based Invesco Ltd. has purchased a 600-unit apartment complex in Wheaton for $93 million, Crain’s Chicago Business reports.
Invesco bought Amli at Danada Farms, which is now called the Crossings at Danada, from Chicago-based Amli Residential in the ”second-largest multifamily sale in the Chicago suburbs this year,” according to the article. The complex is located at 2 Sterling Circle in Wheaton.
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It’s a good time to invest in a multi-family property, according to Crain’s, as interest rates remain low and rent and occupancy rates remain high. In DuPage County, the median rent rose 7.9 percent in two years.
Rent at the Crossings at Danada ranges from $1,122 to $1,828, according to apartments.com. There are one-, two- and three-bedroom units available.
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