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Developer looks to cash out of Wheeling's new downtown: The 301-unit One Wheeling Town Center will test investors' appetite for mixed-use properties near public transportation in the suburbs.
In: Crain's Chicago Business, Jg. 46 (2023-11-13), Heft 45, S. 8
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The One Wheeling Town Center, a 301-unit apartment complex in suburban Wheeling, Illinois, is being put up for sale by developer Lynmark Group. The complex, completed in 2020, is part of a larger mixed-use development near the Wheeling Metra station. The offering includes retail and restaurant space adjacent to the apartment building. While demand for suburban apartments has increased, interest rate hikes have slowed sales of apartments nationwide. However, the property comes with a long-term mortgage from the U.S. Department of Housing & Urban Development, which may be an advantage for potential buyers. The retail portion of the development is nearly 92% occupied, and the apartment building is 97% leased. Lynmark Group is a third-generation family-owned real estate development company. [Extracted from the article]
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Developer looks to cash out of Wheeling's new downtown: The 301-unit One Wheeling Town Center will test investors' appetite for mixed-use properties near public transportation in the suburbs.
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Autor/in / Beteiligte Person: | Ecker, Danny |
Zeitschrift: | Crain's Chicago Business, Jg. 46 (2023-11-13), Heft 45, S. 8 |
Veröffentlichung: | 2023 |
Medientyp: | serialPeriodical |
ISSN: | 0149-6956 (print) |
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