Arlington Heights, IL – A condominium building in the Chicago suburb of Arlington Heights has sold for $9.7 million.

The property is located near Arlington International Racecourse, the shuttered site that the Chicago Bears have agreed to buy with plans to redevelop it into a new stadium and entertainment district.

The 40-unit One Chestnut Court, located at 1 N. Chestnut Ave., sold for $242,500 per unit. The sale, which closed last week, is the second-highest condominium building sold on a per-unit basis in Arlington Heights in the past five years, according to Pat Kennelly with Interra Realty LLC, who represented the seller, Chestnut Street Condominium Association, along with colleague Paul Waterloo.

Read the full article: Chicago Business Journal

See addition articles on this transaction below:

RE Business Online: Interra Realty Brokers $9.7M Condo Deconversion Sale in Arlington Heights, Illinois

ConnectCRE: Interra Arranges Second Arlington Heights Deconversion Deal in 30 Days

Daily Herald: $9.7 Million Sale Will Make Downtown Arlington Heights Condo Building Apartments Again