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PALATINE, IL-After spending $78 million to buy the Bourbon Square multifamily rental complex, Romeoville-based Marquette Cos. plans to invest another $20 million in improvements to the 612-unit property. The sale by Equity Residential marks a return for Marquette Cos., which managed Bourbon Square more than 10 years ago.

Marquette Cos., which used a $70-million loan from LaSalle Bank to buy Bourbon Square and has another $9.5-million construction loan, already manages Clover Ridge East in Palatine and Arbor Lakes in neighboring Arlington Heights.

In addition to amenities that include an indoor swimming pool, fitness center and clubhouse, square footage of the one- and two-bedroom units at Bourbon Square was a major plus, says Marquette Cos. partner Jeff Prosapio. Units at the complex at Lake-Cook and Hicks roads range from 1,221 sf to 1,341 sf. "The size of the apartments is certainly one of the main attractions of this property, especially as residents continue to demand larger and more spacious homes," he adds.