Essex Realty Group Brokers the Sale of The Parker in Park Ridge, IL
June 10, 2019

The Parker is a 46-unit new construction property located in the highly desirable suburb of Park Ridge. All 46 units are 2-bedroom 2-bathroom homes featuring large floorplans, washer/dryer in-unit, large kitchens with center islands, strategic USB charging outlets, and a balcony or fireplace.

The community features include 92 parking spaces (46 are garage spaces), a fitness center, car washing area, pet run, grilling area, and ButterflyMX systems at each entryway. The building is walking distance to the charming downtown area as well as the Park Ridge Metra Station. The property was developed by a joint venture of CA Residential and Orchard Development Group and was completed in 2016.

“It’s rare to have a multi-family property go up for sale in Park Ridge, let alone a newly constructed one within walking distance to downtown and public transportation,” says Jim Darrow, principal for Essex Realty Group.

Essex secured a buyer after a highly competitive marketing process resulting in multiple offers.

The sale price was approximately $15,075,000.

Jim Darrow, Jordan Gottlieb and Jordan Multack represented the Seller, CA Residential and Orchard Development Group and Doug Imber, Kate Varde and Clay Maxfield represented a private investor in a 1031 exchange.