- Address 9350 Congress Drive
Des Plaines, IL 60016
- Property Type Multi-Family Purchased – Sold May 2010 – December 2014
- Number of Units 240
- In Partnership With Legacy Varin Realty Investor IRR / MOIC 25.06% / 2.32x
This 240-unit apartment complex was purchased by Ravine Park Partners, in partnership with Legacy Varin Realty, in May 2010. Built in 1965, the property underwent a multi-million-dollar renovation which included capital improvements to the roof, windows and doors, as well as a new clubhouse and overhaul of the common areas. As a result, the net operating income increased, operations improved, and the building sold in 2014.