CHICAGO, IL - Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it facilitated the sale of 20West, a six-story, 71-unit rental community at 20 W. Northwest Highway in Mount Prospect, Ill., for $23 million. The transaction equated to $323,943 per unit.
Interra Managing Partner Paul Waterloo, Managing Partner Patrick Kennelly and Director Nathan Zito represented the buyer, Wheeling, Ill.-based Anemone Real Estate. Zito, Waterloo and Kennelly also represented seller Wingspan Development Group, which opened the property in 2019. It was 94% occupied at the time of sale.
“Large-scale, Class A multifamily developments continue to attract interest from buyers seeking to grow their presence in Chicago’s suburbs, where rents have continued to increase,” said Waterloo. “This sale brought together a highly regarded local developer and an operator that immediately saw the value in the asset’s quality, location and long-term positioning.”
20West features nine studio, 41 one-bedroom and 20 two-bedroom layouts, as well as one three-bedroom penthouse. On-site amenities include a fitness center, yoga studio, lounge and demonstration kitchen. The property also features a two-story restaurant space, currently leased to The Prospect, an upscale, chef-driven concept.
“Mount Prospect’s downtown core has emerged as one of the suburbs’ strongest transit-oriented submarkets, with Metra access, walkable retail and limited new supply creating durable demand,” said Zito. “20West reflects exactly what institutional and private capital is looking for in suburban Chicago right now — newer Class A product in a location that doesn't rely on a single demand driver.”
The suburban Chicago multifamily market has seen strong demand for larger assets, according to Interra Realty’s Q1 2026 Suburban Chicago Multifamily Sales report. Data compiled by Interra shows that multifamily property sales ranging from $1 million to $50 million remained consistent in first-quarter 2026 compared with the same period in 2025. However, total sales volume increased by 56.9% during that time, with average deal size growing from $4.2 million to $6.6 million year over year.
20West is close to multiple dining and shopping options along Northwest Highway. The property is across the street from Metra’s Mount Prospect station on the Union Pacific Northwest Line, providing service to downtown Chicago.
About Interra Realty: Founded in 2010, Interra Realty is a Chicago-based commercial real estate services firm that delivers integrated, tailored solutions through its boutique, client-focused approach and team of experienced professionals. Since its inception, the firm has closed thousands of transactions valued in excess of $3 billion spanning the multifamily, office and retail sectors, as well as loan sales. Interra’s clients range from private investors and high-net-worth individuals to large financial institutions, private equity groups and hedge funds. For more information, visit www.interrarealty.com