Press Releases
Marcus & Millichap Brokers Multifamily Sale in Suburban Chicago
February 06, 2026
PALATINE, Ill., Feb 6, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Arrowhead Apartments, a 200-unit apartment property in Palatine, Illinois.
“Located in a vibrant rental market, Arrowhead Apartments has 160 market rate units and 40 units that have a Housing Assistance Payments contract that runs through 2039,” said Scott Harris, senior managing director investments in Marcus & Millichap’s Chicago Oak Brook office. “Between 2019 and 2021, the property received a multi-million-dollar renovation.” Harris represented the seller, a joint venture with Hispanic Housing Development Corporation as the managing partner, and procured the buyer, Artisan Capital Group in partnership with Eastham Capital who completed their fifth transaction together.
The property is close to Illinois Route 53, a short drive from commuter rail service at Palatine station, and less than 20 miles from Chicago O’Hare International Airport. Residents can walk to shopping at Plaza La Rosita, and the Park Place Shopping Center is nearby. Harper College and the College of Lake County’s Southlake Campus are within proximity. Weber-Stephen Products, maker of Weber grills, is headquartered in Palatine.
Arrowhead Apartments is a two- and three-story garden-style property with an updated outdoor swimming pool, updated clubhouse, children’s play area, and dog park. Apartments have custom cabinetry and new light fixtures, vanities, sinks, and faucets. The average unit size is 867 square feet.
“Located in a vibrant rental market, Arrowhead Apartments has 160 market rate units and 40 units that have a Housing Assistance Payments contract that runs through 2039,” said Scott Harris, senior managing director investments in Marcus & Millichap’s Chicago Oak Brook office. “Between 2019 and 2021, the property received a multi-million-dollar renovation.” Harris represented the seller, a joint venture with Hispanic Housing Development Corporation as the managing partner, and procured the buyer, Artisan Capital Group in partnership with Eastham Capital who completed their fifth transaction together.
The property is close to Illinois Route 53, a short drive from commuter rail service at Palatine station, and less than 20 miles from Chicago O’Hare International Airport. Residents can walk to shopping at Plaza La Rosita, and the Park Place Shopping Center is nearby. Harper College and the College of Lake County’s Southlake Campus are within proximity. Weber-Stephen Products, maker of Weber grills, is headquartered in Palatine.
Arrowhead Apartments is a two- and three-story garden-style property with an updated outdoor swimming pool, updated clubhouse, children’s play area, and dog park. Apartments have custom cabinetry and new light fixtures, vanities, sinks, and faucets. The average unit size is 867 square feet.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
