Michael Duckler, Senior Director at Greenstone Partners, recently represented the purchaser in the $22 million sale of a 345-unit multifamily portfolio in Blue Island, Illinois. The portfolio comprises 27 buildings in Chicago’s south suburban market.
The out-of-state buyer, which has a significant presence in the submarket, worked closely with Duckler throughout the acquisition, benefiting from his extensive multifamily experience in the area and deep familiarity with the municipalities, building departments and broader real estate landscape throughout Chicago’s south suburbs.
The acquisition presented an opportunity for the buyer to leverage its existing local management infrastructure and portfolio scale to create operational efficiencies across the 345-unit portfolio. More than $3.1 million in capital improvements have already been invested in the properties, including upgrades to a significant portion of the apartment units. The buyer plans to make additional improvements to the portfolio, with a focus on exterior and structural enhancements as well as continued investment in select units.
“This transaction speaks to the evolution we’re seeing among established multifamily owners in the south suburbs,” said Duckler. “Groups that historically focused on smaller assets have built the infrastructure and experience to pursue opportunities of this scale and compete alongside larger acquisition groups. For an experienced operator with an existing footprint in the market, a portfolio like this offers economies of scale and opportunities to create efficiencies that may not exist for every buyer.”
The transaction also highlights the value of specialized market knowledge when pursuing large-scale multifamily opportunities. Duckler’s relationships and experience throughout Chicago’s south suburban communities helped the buyer evaluate the opportunity, structure a competitive offer and navigate the transaction through closing.
“Michael’s work on this transaction is exactly why we were excited to bring him to Greenstone,” said Jason St. John, Managing Partner at Greenstone Partners. “His relationships, market knowledge and understanding of the south suburban multifamily landscape provide tremendous value to his clients. Closing a $22 million, 345-unit transaction demonstrates the experience and momentum he brings to our platform, and we’re excited to support his continued growth throughout the Illinois suburban multifamily market.”
Duckler represented the purchaser in the transaction while affiliated with Interra Realty. Kyle Sissell and Lee Kiser of Kiser Group represented the seller.
Duckler joined Greenstone Partners as Senior Director in 2026 and specializes in multifamily and mixed-use investment sales throughout the Chicago MSA. He has been involved in more than $400 million in transaction volume throughout his career and continues to expand Greenstone’s multifamily presence across the suburban markets.
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