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Evanston’s real estate transfer tax revenue soared last month as an insurance company took an ownership interest in a new high rise rental development under construction and the Hotel Orrington got a new owner.

Evanston’s real estate transfer tax revenue soared last month as an insurance company took an ownership interest in a new high rise rental development under construction and the Hotel Orrington got a new owner.

Entities controlled by Fifield Companies and Carroll Properties sold part interest in 1890 Maple Ave. and 1881 Oak Ave. — which adjoin each other along Emerson Street — to the Northwestern Mutual Life Insurance Company for just under $10.52 million.

The insurance company is also providing $66 million in mortgage financing for the project.

The hotel, as previously reported, was acquired by Seattle-based Dow Hotel Company. The sale price was $36.75 million.

The two sales helped boost transfer tax revenue for July to nearly $530,000 — just under the peak level of the past three years.

In all 134 properties changed hands last month, the highest number since June of last year.

Seven other properties sold for more than $1 million last month:

  • A lakefront home at 925 Edgemere Court sold for $3.8 million.
  • A courtyard apartment building at 631 Brummel St. sold for $1.665 million.
  • A home at 2714 Lincoln St. sold for $1.38 million.
  • A home at 2639 Linolnwood sold for $1.21 million.
  • One at 2319 Lincoln St. sold for $1.2 million.
  • A house at 2119 Harrison St. changed hands for $1.185 million
  • And one at 2138 Orrington Ave. brought its owners $1.165 million.

Bill Smith is the editor and publisher of Evanston Now.

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