CHICAGO, IL – JLL Capital Markets has announced the closing of the sale of 1717, a 175-unit mid-rise apartment building in Evanston, Illinois.

JLL represented the seller, Invesco Real Estate, a global manager of real estate investments. CBRE Investment Management acquired the assets on behalf of the CBRE Strategic Partners US Value 9 fund.

Built in 2013, the 1717 units feature stainless steel appliances, granite countertops, recycled glass tile backsplashes, designer kitchen cabinet hardware, wood-style vinyl flooring, nine foot ceilings and full size washers and dryers. Community amenities include a resort-inspired pool and deck, private deck with fire pit, grill stations, picnic area, state-of-the-art fitness center, resident lounge, fitness center business with workstations and a cybercafé with television and view on the sunny terrace.

Located at 1717 Ridge Ave., the community is conveniently located just south of the convergence of Green Bay Road and Ridge Avenue in the northern suburb of Chicagoland. The location offers both a suburban lifestyle with parks, green spaces and outdoor recreation, as well as an urban environment with direct access to top employers, malls, restaurants, bars and entertainment. Residents have a variety of transportation options, as the building is close to US-41, I-94, and Davis Street Station Metra UP-N and CTA Purple Line. Plus, residents are close to Chicago’s central business district, Lake Michigan beaches, Northwestern University, and O’Hare International Airport.

The JLL Capital Markets team representing the seller was led by Senior Managing Director Kevin Girard, Executive Managing Director Matthew Lawton and Managing Director Mark Stern.

“It was a fantastic opportunity to work with two very large institutional clients on a transaction in a dynamic location,” said Girard. “Evanston, as a market, has experienced extraordinary rental growth due to overstretched demand and unique qualities with urban / suburban amenities, proximity to Northwestern University, Lake Michigan and the Metra train lines. and CTA.