Seeing the Forest (Hall) for the Trees
Forest Hall Apartments (500 Des Plaines Ave.) is one of the larger multifamily properties within Forest Park. Forest Park is a stable, near western suburban town offering quality housing options, accessible transportation, and desirable retail amenities. Forest Hall is well situated within the submarket to take advantage of these location drivers.
Forest Hall consists of primarily studio apartments. The property has been professionally managed and well maintained, but could be modernized to achieve higher rent levels.
Interra procured multiple offers while running a proactive marketing campaign. The winning purchaser is a private, Chicagoland based investor that closed the transaction six weeks into the COVID-19 pandemic shelter-in-place order.