JVM Realty Corp. Acquires Chicago-Area Luxury Community
The property last traded for $46 million.
Courthouse Square. Image courtesy of JVM Realty Corp.
JVM Realty Corp. has acquired Courthouse Square, a 149-unit luxury community in Wheaton, Ill. JLL Capital Markets represented the seller, identified by Yardi Matrix as Allstate Real Estate Investment Group.
The same source shows that the property last traded in 2018, when Focus Development Inc. sold the asset to Allstate for $46 million.
Built in 2016, the Class A property encompasses two buildings with one-, two- and three-bedroom apartments, ranging between 622 and 1,520 square feet. Common-area amenities include a fitness center, swimming pool, yoga studio, outdoor deck, event room and media space.
The property is LEED Silver-certified and features garage parking with electric charging stations, recycling chutes and bike repair stations. In-unit amenities consist of washers and dryers, stainless steel appliances and private balconies or patios.
Courthouse Square is located at 250 S. Naperville Road, near Route 38 and roughly 25 miles west of downtown Chicago. There’s an abundance of retail centers, dining options and green areas in the proximity of the property, such as The Morton Arboretum and Danada Forest Preserve. Wheaton College and College of DuPage are within a 3-mile radius from the community.
The JLL team involved in the sale included Managing Directors Mark Stern and Kevin Girard, Senior Analyst Avi Schiffman and Director Zach Kaufman.
In November 2022, JVM acquired a property in another Chicago suburb. The 240-unit Seasons at Romeoville community came online in 2021. Girard was also part of the JLL team representing the seller, Fiduciary Real Estate Development Inc.
