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NJ Developer Pays $60M for Chicago-Area Multifamily

Local Firm Sells 592-Unit AMLI at Chevy Chase for Record Price
By Laurie Forbes
June 29, 2009 | 3:51 P.M.

Penobscot, a Teaneck, NJ-based apartment developer, purchased AMLI at Chevy Chase, a 592-unit apartment complex in Buffalo Grove, IL, from Chicago-based AMLI Residential for $60 million, or approximately $101,351 per unit.

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