Overview
- The portfolio totals 1,495 units spanning Elmhurst, Lombard, Evanston, Rolling Meadows and Chicago’s Hyde Park.
- The buyer finished due diligence and has begun a non-refundable deposit that will reach $20 million by January 15, 2026.
- Closing is targeted for the first quarter of 2026, contingent on approvals to assume the in-place mortgage loans and other customary conditions.
- Aimco estimates about $160 million in net proceeds after debt and costs, with most earmarked for shareholders under its liquidation plan pending a vote.
- LaTerra and Respark say this is their first Chicago investment and plan targeted renovations to improve operations while preserving cash flow, with the trade ranking among the city’s largest recent multifamily portfolio deals.