Monroe Residential Partners has sold 101 West, a trophy apartment community located in the sought-after suburb of Barrington, Ill., which is about 40 miles from Chicago.
HP Ventures Group paid $20.75 million for the asset.
“HP’s properties feature high-quality, large units located in Chicago’s outlying neighborhoods and suburbs,” said Steve Cook, HP’s managing partner. “These attributes attract HP’s target market of tenants and have become even more important as the trend of work from home has accelerated. We think that the Chicago area offers excellent investment opportunities and 2021 is a year of significant growth of our property portfolio.”
101 West totals 62,818 rentable square feet and consists of 64 one- and two-bedroom units, averaging 982 square feet. Units tout modern design with condo-quality fixtures, including spacious master suites, walk-in closets, stainless steel appliances and quartz kitchen countertops. 101 West also features h
