Essex Realty Group has arranged the sale of two neighboring apartment buildings at 329 & 331 N. Ardmore Ave., located in the village of Villa Park in Illinois.
Essex Director Anthony Citriglia brokered the transaction. Built in 1979, the two adjacent 8-unit buildings feature 16 total one-bedroom/one-bathroom units, as well as 28-car parking spaces and two motorcycle parking spaces, which are available to tenants. Five of the units have been recently renovated, including new bathrooms, updated kitchens, modern finishes, and ten new water heaters.
Located approximately 20 miles west of Chicago, Villa Park offers a variety of shopping options, is home to the Cricket Creek Forest Preserve, and sits along several trails that are part of the Illinois Prairie Path. The property is situated near the Metra UP-W line, and O’Hare International Airport is less than a 30-minute drive away.
The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...
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Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...
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Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
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