Here are the top 5 multifamily sales of January

Mapletree Investments’ purchase of a River North apartment building topped the list of the priciest multifamily deals in January.

The Singapore-based investors paid $91 million for a 25-story apartment tower at 220 West Illinois Street, with plans to convert the building into corporate housing. It was by far the biggest multifamily investment buy of the month, accounting for 78 percent of all funds spent on January’s five biggest apartment acquisitions.

Over $115 million was spent on the top 5 multifamily sales in January, less than half the $245 million spent on December’s five biggest sales, according to a review of Cook County property records.

Three of the top five multifamily sales in January are for buildings about a mile from each other on the North Side. Two apartment buildings in Buena Park and one in Lakeview traded for a combined $17.9 million.

1. 220 West Illinois Street | $91 million

Chicago developer Fred Latsko and Portland firm Gerding Edlen sold this 25-story apartment tower to Singapore Investments, which has plans to convert the 188 apartments to business and extended-stay residences. A subsidiary of Mapletree, Los Angeles-based Oakwood, will manage the property. Oakwood controls more than 40 extended stay housing sites in Chicago and is looking to expand.

2. 820 West Cuyler Avenue | $8.2 million

Chicago-based Mo2 properties sold this Buena Park complex on Jan. 16 to an entity controlled by Eddie Zipperstein, records show. The building, completed in 1921, has 37 units with a mix of one-bedrooms and studios, according to LoopNet. Of the three North Side buildings to make the list, this was easily the most expensive.

3. 1330 Rand Road, Des Plaines | $6.7 million

An entity tied to Kolman Bubis, principal and co-founder of Sunstone Real Estate Advisors, bought the Rand Road Mobile Home Community in Des Plaines. The mobile home park currently has no available rentals, according to its website. Sunstone Real Estate Advisors specializes in mobile home investments. The property was sold by a trust, according to Cook County records.

4. 4400 N. Magnolia Avenue | $5.8 million

This complex in the Buena Park/Uptown area was bought by Martha Moran, the president of Bil-Mar Management, for $5.8 million. Bil-Mar has owned and managed rental buildings on the North Side since 1974. This three-story, six-unit complex was built in 1915 and is across the street from Graceland Cemetery. It was sold by a venture led by Jeff Aeder and Kevin Connor, founders of JDI Realty, and the Wolcott Group.

5. 1301 West Cornelia Avenue | $4 million

An entity controlled by attorney Karlo Karacic picked up this 13-unit Lakeview complex for $4 million. The structure was built in 1916 and includes a four-bedroom penthouse, which is the combination of a pair of two-bedroom units, according to LoopNet. Selling the building was Marissa Kolar.