Largest-ever deal in suburban Chicago illustrates continued investor interest in Midwest apartments
CHICAGO, February 8, 2022 – JLL Capital Markets announced the closing of the sale of Ellyn Crossing, a 1,155-unit garden-style apartment community in Glendale Heights, Illinois, marking the largest transaction ever in a Chicago suburb.
JLL represented the seller, Rockwell Property Co., to facilitate the sale to Turner Impact Capital, a leading real estate investment firm dedicated to social impact.
Covering 31 buildings on 45 acres, Ellyn Crossing currently consists of 678 unrenovated houses, 80 partially renovated houses and 397 renovated houses. Non-renovated units feature laminate countertops, white appliances, and light brown cabinetry, and remodeled homes offer laminate countertops with various finishes, wood-style plank flooring, designer tile backsplash, ceiling fans, ceiling and black appliances. Community facilities include a fitness center, resident clubhouse, resort-style swimming pool, laundries, park, tennis court, and business center.
Located at 440 Gregory Ave., the community’s location allows residents easy access to top employers, providing convenient commute times to the Golden Corridor in Schaumburg and the Industrial Freeway along I-88 . The community also offers connectivity to Chicago, near two Metra stations within a five-mile radius. The property is also just 11 miles northeast of Elk Grove Village Business Park, the largest industrial park in the United States, and near eight award-winning hospitals. Additionally, Ellyn Crossing offers easy access to freeways, including I-355, I-290, I-88, and the Chicago Loop, and is close to DuPage Airport and O’Hare International Airport.
JLL Capital Markets’ sales and advisory team was led by Senior Director Kevin Girard and Senior Managing Director Marty O’Connell.
JLL Capital Markets is a global, full-service provider of capital solutions for property investors and occupiers. The firm’s in-depth knowledge of the local market and global investors provides best-in-class solutions to its clients, whether it is investment and sales advisory, debt advisory, equity advisory or recapitalization . The firm has more than 3,000 capital markets specialists worldwide with offices in nearly 50 countries.
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