JVM Acquires Apartment Community in Chicago
JVM Realty Corp., a multifamily real estate investment and property management firm, announced it has acquired Courthouse Square, a 149-unit Class A apartment community 25 miles west of Chicago in the suburb of Wheaton.
“Apartment communities of this caliber are in high demand given the strong employment fundamentals and high barriers to entry for home ownership,” said Jay Madary, president and chief executive officer of JVM Realty Corp. “The acquisition of Courthouse Square fits our long-term strategy of pursuing investments where we can leverage our local experience and extensive operating platform to enhance performance, using disciplined underwriting to reflect current and projected market conditions.”
Located at 250 S. Naperville Road, Courthouse Square was built in 2016 and offers one-, two- and three-bedroom apartment homes in two, six-story brick buildings. Many of the open-concept apartment homes include dens and home offices with layouts offering up to 1,520 square feet. The property is LEED Silver certified with finishes such as kitchens with stainless-steel appliances, quartz countertops and islands and subway tile backsplashes; nine-foot ceilings; engineered hardwood flooring; shaker-stye cabinetry; and a full-sized washer and dryer. Select homes come with a private balcony or oversized terrace and standalone showers with glass door enclosures.
Residents have various community amenities including access to a resort-inspired pool and sundeck, concierge service and package receiving, fully equipped 24-hour fitness center and yoga studio, event room with catering kitchen, media space and billiards, an outdoor deck with a fire pit, heated indoor garage parking with electric charging stations, pet wash, car wash and bike repair stations.
The property has direct access to downtown Chicago via the Union Pacific West Line and nearby Interstates 88 and 355 connect residents with the greater Chicago Metropolitan Area. Residents enjoy a short commute to six Fortune 1000 companies and other employers along the I-88 Illinois Technology and Research Corridor.
With this latest acquisition, JVM now owns and manages eight apartment communities in Illinois and 23 communities in total throughout the Midwest.
Based in Oak Brook, Illinois, JVM operates a $1.6 billion multifamily portfolio in the Greater Midwest, including Illinois, Indiana, Kansas, Missouri and Wisconsin.
Click here to visit The DI Wire directory page.
