Inland unit pays nearly $12 million for condo project turned rental

    The rising apartment market has saved a 59-unit condominium project in Albany Park from the sinking condo market.

    The venture that built the Kimball Station development sold the property at 4730 N. Kimball Ave. last month to a unit of Oak Brook-based Inland Real Estate Group of Cos. The development venture, which rented out all the condos in the building, sold the property for $11.8 million, nearly $1.4 million more than the original loan on the project, county records show.

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