CHICAGO, IL – Trilogy Real Estate Group, a Chicago-based real estate investment, management and development company, announced the acquisition of Park 205, a luxury apartment complex in Park Ridge, IL, a suburb of Chicago.
"Our multi-cycle investment experience combined with the breadth of our platform enables us to clearly identify opportunities like Park 205," said Jesse Karasik, Trilogy's chief investment officer. "Strong suburban hubs like Park Ridge are of great interest. Park 205 is a boutique hotel that is very well equipped and offers long-term differentiation."
The property is located at 205 Touhy Avenue and offers 115 one, two and three bedroom apartments. The spacious units are stylishly furnished with hardwood or vinyl plank floors, granite countertops, cooking islands, washer and dryer in the unit, and walk-in closets. Residents enjoy world-class communal facilities, including a fitness center, heated pool and sundeck, poolside grills, a communal fireplace, access-controlled gates and temperature-controlled underground parking.
Park 205 is strategically located next to a Whole Foods and just a few minutes' walk from the vibrant Uptown district with its numerous shopping, dining, cultural and leisure facilities. Commuters enjoy access to Park Ridge Metra, which provides direct and efficient access to workplaces in downtown Chicago. The community's appeal is enhanced by its proximity to Maine South High School, which is run by U.S. News and World Report ranks in the top 4% of all high schools nationally.
Trilogy Residential Management, Trilogy's top-rated management company for eight consecutive years, will manage the property.
Since 2002, Trilogy executives have completed over $ 4 billion in deals, including $ 670 million in acquisition and financing activities in 2020. In addition to Park 205, Trilogy also owns an apartment building in nearby Skokie.
Source: Trilogy Real Estate Group