The Daily Parker

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$101 million Evanston sale

Via Evanston Now:

The pension fund TIAA-CREF has closed on its purchase of the 10-year-old Park Evanston rental apartment tower at 1630 Chicago Ave. from the John Buck Company.

The sale price of the 24-story structure—$101,125,000—is reportedly the highest price ever paid for a suburban apartment building.

The transaction late last month brings an immediate real estate transfer tax benefit to the city of $505,625 in what has otherwise been a slowing market for property sales.

This interests me because it's right across the alley from where I'm sitting:

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