Palatine multifamily buildings sell for $5.85 million
A five-building, 30-unit multifamily complex in Palatine was sold for $5.85 million, the firm that brokered the deal announced Wednesday.
Interra Realty, a Chicago-based commercial real estate investment services firm, arranged the deal for $195,000 per unit between a confidential seller and a private buyer.
The properties at 1304, 1305, 1306, 1308 and 1318 East Turtle Creek Circle are part of the Turtle Creek Apartments Master Association.
The portfolio includes five one-bedroom and 25 two-bedroom units, which recently were upgraded.
Interra Managing Partner Paul Waterloo and Managing Partner Patrick Kennelly represented the private local buyer and confidential seller as part of an off-market transaction. The portfolio was fully occupied at the time of sale.
“The Northwest suburbs remain one of the most compelling investment plays in the Chicago multifamily market, with fundamentals driven by strong occupancy and steady rent growth,” said Interra Managing Partner Paul Waterloo.
Waterloo and Managing Partner Patrick Kennelly represented both the seller and buyer.
“Because it is difficult to accumulate scale in this part of the market, the portfolio offered the buyer immediate economy of scale through a collection of well-maintained, fully occupied assets,” Waterloo added.
Interra Realty’s Q2 2026 Suburban Chicago Multifamily Sales report indicates a strong demand for the suburban Chicago multifamily market.
Interra tracked all multifamily deals ranging from $1 million to $50 million from January through June 2026 and recorded $750.8 million in total sales volume, a 67.8% increase over 2025’s first-half total.
The total number of sales increased 17.7%, with more than half of all activity located in Cook County, where the Turtle Creek buildings are located.
The portfolio is near multiple dining and shopping options along Dundee and Rand roads.
Founded in 2010, Interra Realty has closed thousands of transactions valued in excess of $3 billion, spanning the multifamily, office and retail sectors.