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JVM Realty Corp. Acquires Chicago Apartment Community

JVM Realty Corp. Acquires Chicago Apartment Community. Acquisition, alternative investments, JVM, multifamily, private placement, property management, real estate investment, residential
JVM Realty Corp. Acquires Chicago Apartment Community. Acquisition, alternative investments, JVM, multifamily, private placement, property management, real estate investment, residential

JVM Realty Corp., a multifamily real estate investment and property management firm, announced that it has acquired Ellison Apartments, a newly constructed, 113-unit, transit-oriented luxury apartment community in the Chicago suburb of Des Plaines, Illinois.

“Ellison Apartments is a rare find, in that it features an exclusive, boutique multifamily property in a high-demand, strategic location,” said Jay Madary, president and chief executive officer of JVM Realty Corp. “This property aligns perfectly with our investment approach, emphasizing quality and convenience for our residents and exceptional value for our partners.”

Located at 1555 Ellinwood Avenue, Ellison Apartments was completed in 2019 and provides alcove studio and multiple one-bedroom and two-bedroom layouts, with an average of 894 total square feet per unit. The company says each apartment home features low-flow water fixtures, LED lighting and open kitchens with stainless steel appliances, granite or quartz countertops, 42” cabinetry with undermount lighting and subway tile backsplashes; nine-foot ceilings with windows for natural lighting; energy efficient appliances; wide plank flooring; private balcony or patio; and an in-unit, full-size washer and dryer. Select units also feature glass-enclosed showers. The property will also feature first-floor retail space.

Residents also have access to a variety of community amenities including a spa pool and sundeck with grilling station and fire pit; club room with entertaining kitchen, work pods, coffee bar, and business center with video conferencing; fully equipped 24-hour fitness and wellness center; indoor garage parking; pet spa; and bike room.

“The Ellison is an exceptionally well built and highly amenitized boutique multi-family asset,” said John Jaeger, an executive vice president in CBRE’s Chicago office who brokered the transaction. “The property is well situated for the future with a location adjacent to a Metra Train station, suburban-urban amenities and proximity to O’Hare airport.”

The property itself is located in downtown Des Plaines, offering residents a short walk to several nearby restaurants and bars and is directly across the street from the Metra train station, offering service to downtown Chicago in less than 30 minutes. O’Hare International Airport is 15 minutes away. The area also provides easy access to six shopping centers within a two-mile radius.

This is the ninth Illinois property in the current JVM portfolio which is expected to provide additional economies of scale for ongoing property management. JVM owns and operates a multifamily portfolio in excess of $1.5 billion in the greater 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.

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