Park Colony Apartments

Des Plaines, Illinois

  • Address 9350 Congress Drive
    Des Plaines, IL 60016
  • Property Type Apartments Purchased – Sold 5.13.2010 – 12.18.2014
  • Number of Units 240 Year Completed 1965
  • In Partnership With Legacy Varin Realty Investor IRR / MOIC 25.06 / 2.32

This 240-unit apartment complex was purchased by Ravine Park Partners LLC, in partnership with Legacy Varin Realty, in May 2010. Built in 1965, the property underwent a multi-million-dollar renovation which included capital improvements to the roof, windows and doors, as well as a new clubhouse and overhaul of the common areas. As a result, the net operating income increased, operations improved, and the building sold in 2014.