CHICAGO, IL - Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it facilitated the sale of a five-building, 30-unit multifamily portfolio in Palatine, Ill. The deal closed for $5.85 million, which equates to $195,000 per unit.
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 Waterloo. “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.”
The properties, located at 1304, 1305, 1306, 1308 and 1318 E. Turtle Creek Circle, are part of the Turtle Creek Apartments Master Association. The portfolio includes five one-bedroom and 25 two-bedroom units, all of which have been recently upgraded. The properties are subject to a monthly association fee that covers insurance, landscaping, snow removal and waste collection.
The suburban Chicago multifamily market continues to see strong demand, according to Interra Realty’s Q2 2026 Suburban Chicago Multifamily Sales report. 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 close to multiple dining and shopping options along Dundee and Rand roads. The area is served by Metra’s Palatine 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