Chicago-based GlenStar Properties is selling a 181-unit Lombard apartment complex before even breaking ground on the project. The forward sale of the Highlands of Lombard, at 2700 S Highland Ave, is slated to break ground in late spring. GlenStar would give the property to the buyer after it's completed in about 18 months, Crain's reports. Kiser Institutional Group, which has been hired to broker the sale, expects the property to sell for $53M, or at least $295k/unit. The units are slated to be high-end, with wood floors and walk-in closets. [CCB]
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