CBRE Arranges Sale of 586-Unit MF in Arlington Heights

CBRE has arranged the sale of Stonebridge of Arlington Heights, a 586-unit multifamily property in Arlington Heights, Illinois. Bayshore Properties purchased the property from The Connor Group for an undisclosed amount.

CBRE’s Steve LaMotte, Jr., John Jaeger, Dane Wilson, Justin Puppi and Ross Wettersten represented the seller in the transaction. “This property provides a number of value-add opportunities to new ownership, which was a major factor that ultimately contributed to this sale,” said Jaeger. “Stonebridge is also located in a fantastic suburb of Chicago and is surrounded by a number of restaurants, entertainment and retail venues including Annex of Arlington mall and Park Place shopping center.”

Stonebridge is located at 650 W. Rand Road, near Interstates 294, 90 and 290. The property offers a mix of one- and two-bedroom floor plans averaging 1,075 square feet with indoor and outdoor amenities.