S2 Capital Acquires Ovaltine Apartments Multifamily Community In Villa Park For 344 Units
1 Ovaltine Court
Building Size
—
Asset Type
MultiFamily
Closing
Dec 22, 2025
AI
The Ovaltine Apartments, a converted property from the historic Ovaltine Chocolate Factory, is a multifamily residential community located at 1-113 Ovaltine Court in Villa Park, Illinois. This garden and loft-style community features 344 units, providing value-add potential with high occupancy rates and strong rent growth, while a significant portion of the units remain unrenovated.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Not disclosed
- Address: 1-113 Ovaltine Court
- Market: Villa Park
- Units: 344
- Buyer: Scott Everett & Cole Stephens - S2 Capital
S2 Capital's acquisition marks its first investment in the Chicago area, reflecting a strategic move into a new market segment. The deal involved key figures Scott Everett and Cole Stephens, who successfully led the transaction on behalf of S2 Capital.
Players
Villa Park MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93