Berkadia Negotiates the Sale of 423-Unit Multifamily Property in Chicago, Illinois
Chicago, Illinois – January 15, 2025 – Berkadia, a leader in the commercial real estate industry announced today the sale of Midpointe Apartments, a 423-unit garden-style multifamily property in Chicago, Illinois. Managing Director Ralph DePasquale of Berkadia Chicago led the transaction on behalf of an institutional investor.
Midpointe Apartments sold to an affiliate of California-based Turner Impact Capital on December 20. The sale price was not disclosed.
“Having been involved in the previous sale, we were able to see the continued improvements made by the seller,” said DePasquale.
Located at 4050 W 115th Street, the property offers a Chicago address with a more suburban feel. Midpointe Apartments was built in 1973 and extensively upgraded over the last ten plus years and features 423 units with outstanding amenities such as an outdoor pool, fitness center, dog park, fire pit, and outdoor gas grilling areas.