JVM Realty Corp., a multifamily real estate investment and property management firm, has purchased The Residences at Hamilton Lakes, a 297-unit multifamily property in the northwest Chicago suburb of Itasca, Illinois.
Located at 1133 N. Arlington Heights Road, The Residences at Hamilton Lakes is comprised of three, four-story residential buildings and a clubhouse on 10.7 acres within the Hamilton Lakes Business Park. The LEED-certified community was built in 2017 and includes a mix of studio, one-, two-, and three-bedroom units with walk-in closets and full-size washers and dryers.
Property amenities include a 24-hour fitness center, swimming pool with sundeck, a hot tub, steam room and sauna, an outdoor kitchen and fireplace, and a theater that can accommodate private viewing parties. Subterranean parking also provides reserved garage spaces with electric car charging stations.
“We are thrilled to add The Residences at Hamilton Lakes to our growing Midwest portfolio,” said Jay Madary, president and chief executive officer. “The community is a perfect blend of luxury and location that sets it apart from other rental options in the market, and our award-winning management team will optimize performance and revenue while providing a best-in-class resident experience.”
The Residences at Hamilton Lakes is within close proximity to numerous dining, entertainment, and recreational destinations.
The company noted that residents have access to more than 860,000 private sector jobs in six suburban employment centers and will soon be minutes away from O’Hare International Airport with the completion of the $3.4 billion Elgin O’Hare Western Access Project.
This is the sixth acquisition for JVM Realty in the Chicagoland area. The company’s total portfolio consists of 19 communities in four states.
Based in Oak Brook, Illinois, JVM operates a $1.3 billion multifamily portfolio in the Greater Midwest, including Illinois, Indiana, Missouri and Wisconsin.