JVM Buys 2nd Chicago Community In 2 Weeks

Following the acquisition of the 254-unit suburban luxury property, the buyer now owns and operates five assets in the metro.
Uptown La Grange

JVM Realty Corp. has purchased Uptown La Grange, a 254-unit luxury community in the Chicago suburb of La Grange, Ill. The seller, The Opus Group, completed the property in 2017, according to Yardi Matrix data.

JVM’s Chicago portfolio, now totaling five multifamily properties with more than 1,500 units, has grown rapidly: Two weeks earlier, the investment and development firm acquired a 146-unit community in North Aurora, Ill.

Uptown La Grange is located at 31 E. Ogden Ave., 15 miles from downtown Chicago and within 5 miles of interstates 55, 290 and 294. The community is next to a 17-acre public park and a block from a Metra commuter rail station. A number of shopping options including Trader Joe’s and Walgreens are in the immediate area.

The property has a mix of studio-, one-, two- and three-bedroom apartments equipped with smart-home technology, Whirlpool stainless-steel appliances and full-size washers and dryers. Community amenities include a dog park, yoga room, gaming lounge, conference room and rooftop terrace with a heated pool. In August, Uptown La Grange was 92.5 percent occupied per Yardi Matrix data, with rents averaging $2,177 per month.