JLL Brokers Sale of Renaissance at Carol Stream Property
JLL has closed the sale of Renaissance at Carol Stream, a 293-unit apartment community located in Carol Stream, a western suburb of Chicago, in DuPage County.
JLL represented the seller and Chicago-based owner-operator, Bender Companies. The buyer was Highlands Vista Group. JLL Capital Market’s Investment Sales and Advisory team, representing the seller, was led by Managing Directors Kevin Girard and Mark Stern and Director Zach Kaufman.
Built in 1970, Renaissance at Carol Stream offers spacious floor plans with modern amenities including a resort-style pool & sundeck, full-size indoor basketball court and fully equipped fitness center. The property features 17 buildings across 16.68 acres with a diverse unit mix of one- and two-bedroom apartments averaging 883 square feet.
Current ownership has successfully renovated 129 units, achieving strong rent premiums, with 56% of the property offering additional value-add upside through a programmatic renovation program.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout