140 West Wood Street Signaling Investor Confidence In Palatine

Credit Loopnet

In a significant move for the suburban Chicago real estate landscape, QMR Partners has acquired the Park Towne Condominiums at 140 West Wood Street in Palatine for $18.5 million, equating to approximately $140,000 per unit. This 132-unit property, encompassing a mix of studios to two-bedroom units, marks a notable condo deconversion, reflecting the growing investor interest in suburban multifamily assets.

The transaction at 140 West Wood Street underscores a broader trend in Palatine’s commercial real estate market. The suburb has witnessed a surge in multifamily investments, driven by escalating rental rates and a scarcity of available properties. This environment has made mid-sized assets like Park Towne particularly attractive to investors seeking value-add opportunities.

For investors and developers, this acquisition signals a robust and evolving market in Palatine. The combination of strong rental demand, limited supply, and strategic location makes it a compelling area for commercial real estate ventures.

If you’re considering entering this dynamic market, partnering with a knowledgeable commercial real estate agent in Palatine can provide invaluable insights and guidance.

Gordon Lamphere J.D.

Gordon is a licensed Illinois & Wisconsin Real Estate Broker, who manages the commercial sales and leasing team. Gordon also leads Van Vlissingen and Co’s media marketing team. He is an honors graduate of St. Mary’s College of Maryland and holds a Juris Doctorate from Tulane University Law School.