Randolph Street Realty Capital Pays $25M for Chicago-Area Condos

Ashton Condominiums. Image courtesy of CBRE Lawton Realty Group has completed the bulk sale of…

Ashton Condominiums. Image courtesy of CBRE

Lawton Realty Group has completed the bulk sale of 185 units within the Ashton Condominiums, a 240-unit community in the Chicago suburb of Arlington Heights.

Randolph Street Realty Capital acquired the units for $25 million, according to the firm.

CBRE represented the seller in the deal. Lawton originally acquired the entire property for $40 million.

Built in 1989, and renovated between 2015 and 2019, the community comprises one- and two-bedroom apartments, with storage rooms for each unit. Common-area amenities include a swimming pool, clubhouse, party room, fitness center, patios and laundry facilities.

Located at 2302-2416 S. Goebbert Road, Ashton is just off Interstate 90 and is located 8 miles from O’Hare International Airport.

CBRE’s brokerage team on the deal included John Jaeger, Dan Cohen, Justin Puppi and Nisha Mishra. In April 2020, Cohen was involved in the $44 million condo deconversion sale of 21 East Chestnut Condominiums, a 163-unit property in Chicago. Strategic Properties of North America purchased the building.

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