CLK Properties paid $36 million to acquire a portfolio of four courtyard-style apartment buildings near Northwestern University, with the hidden seller all tracing to one firm.
Each Evanston property was sold through a separate LLC, but all of them trace back to BJB Partners’ co-founder Donal Barry Sr., according to Cook County property records. Based in Park Ridge, BJB Properties lists 46 Chicago apartment buildings in its portfolio.
Key Bank provided a $23 million loan on the properties to Woodbury, N.Y.-based CLK, records show.
The buildings are located at 2121 Ridge Avenue, 2129 Ridge Avenue, 2247 Ridge Avenue and 1511 Hinman Avenue.
Apartments along Ridge Avenue and Hinman avenues are widely rented by university students.
CLK lists more than 80 multifamily properties in its portfolio spanning 15 states, including 30 buildings in Chicago.
A representative of CLK did not respond to a request for comment.Recommend0 recommendationsPublished in