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Marc Realty Scores Big Return with $50M Wrigleyville Sale


Marc Realty Residential is celebrating the $50.5M sale of nine apartment buildings near Wrigley Field. MRR and ASB Real Estate Investments sold the buildings on the 3400 block of North Elaine Place to CLK Properties, a nifty return on the $28.5M the venture paid for the 174 units in 2012. In another sign we’re in a seller’s market, CLK made MRR and ASB, which wanted to own the properties for five years, an offer that could not be refused, reports Crain’s. The Elaine Place properties join 12 other apartment buildings in CLK’s Chicago portfolio. [Crain's]