Hines paid $148M for Evanston's E2 apartments, setting a record for Chicago suburbs at $420,500 per unit.

Houston-based Hines paid $148 million for Evanston's E2 apartments, setting a new record for the priciest multifamily deal in Chicago's suburbs at $420,500 per unit. The sale highlights strong demand for rental properties in Evanston, which could lead to more multifamily building construction. This follows a trend of increasing investment in suburban Chicago rental markets due to high rent growth.

3 months ago
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