JVM Realty Corp. Acquires Luxury Apartment Community In Chicago's Western Suburbs

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Jan 30, 2023, 08:00 ET

CHICAGO, Jan. 30, 2023 /PRNewswire/ -- JVM Realty Corp., a leading vertically integrated multifamily real estate investment and property management firm, announced today 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 CEO 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/home offices with layouts offering up to 1,520 square feet. The property is LEED Silver certified with high-end, modern 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 enjoy an abundance of 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 top employers along the I-88 Illinois Technology and Research Corridor.

Wheaton is the county seat of DuPage County and has been consistently praised as a "Best Place to Live" by various publications for its charm, quality schools and family friendliness. Courthouse Square is located in an area of Wheaton known for lush greenery and outdoor activities, with an array of retail, dining and entertainment options a short walk from the property.

With this latest acquisition, JVM now owns and manages eight apartment communities in Illinois and 23 communities representing $1.6 billion in assets under management throughout the Midwest.

JLL Capital Markets represented the seller in this transaction. The team was led by Managing Director Kevin Girard, Managing Director Mark Stern, Director Zach Kaufman and Senior Analyst Avi Schiffman.

About JVM Realty Corp.
JVM Realty Corporation is a respected name in the Midwest as a leader in multifamily real estate investment and property management. Since 1975, JVM has been committed to excellence and integrity and strives to be the preferred choice for its investors, residents, and associates. Based in Oak Brook, Illinois, JVM operates a $1.6 billion multifamily portfolio in the Greater Midwest, including Illinois, Indiana, Kansas, Missouri and Wisconsin. For more information, please visit www.jvmrealty.com.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.