Investor buys Midwest apartments

Renovation project started by seller

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Hendricks & Partners brokered the sale of Hunter's Ridge, a 408-unit apartment community in Elgin, Ill. The value of the transaction was $25 million. The property is located at 1009 Big Timber Road. St. Louis, Mo.-based MREF II Property III LLC sold the property to Romeoville, Ill.-based Marquette Property Investments Inc. The buyer plans to complete a renovation of the property, which the seller started. The property features a newer clubhouse and leasing center, which were built in 2001. Hendricks & Partners is a national advisory firm focused exclusively on the sale of multifamily properties. *** What's your opinion? Send your Letter to the Editor to