SOLD
JVM Realty Corp. Acquires 113-Unit Ellison Apartments In Des Plaines For $30M
1555 Ellinwood Street
MultiFamily
Sold 161 days ago
Summary
Sale
ILLINOIS
MultiFamily
JVM Realty Corp., led by Jay Madary, has acquired the Ellison Apartments in Des Plaines, Illinois, for $30 million. The multifamily property, located at 1555 Ellinwood Street, consists of 113 units featuring studio, one- and two-bedroom layouts. Built in 2019, the apartments come with various amenities such as a swimming pool, fitness center, spa, and co-working spaces. The purchase price translates to approximately $265,486 per unit.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $30,000,000
- Address: 1555 Ellinwood Street
- Market: Des Plaines
- Buyer: JVM Realty Corp. - Jay Madary
- Seller: Opus Group - Mitch Barns
- Broker: John Jaeger - CBRE
The seller, Opus Group, was represented by Mitch Barns while John Jaeger from CBRE acted as the broker in this transaction. The deal also involved a $25 million loan provided by CrossHarbor Capital Partners Insurance Co. in 2021.
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Details
SOLD
IMAGE: John Jaeger, Mitch Barns & Jay Madary
DATE: 11/28/2023
ADDRESS: 1555 Ellinwood Street
MARKET: Des Plaines
ASSET TYPE: Multifamily
BUYER: JVM Realty Corp. - Jay Madary
SELLER: Opus Group (@TheOpusGroup) - Mitch Barns
BROKER: John Jaeger - CBRE (@CBRE)
SALE PRICE: $30,000,000
UNITS: 113 ~ PPU: $265,487
NOTE: JVM Realty Corp. has purchased the 113-unit Ellison Apartments in Des Plaines, Illinois, for $30 million, at a rate of approximately $265,486 per unit, from Opus Group. The property, built in 2019 and located at 1555 Ellinwood St., includes studio, one- and two-bedroom units with amenities like a swimming pool, fitness center, spa, and co-working spaces, and is encumbered by a $25 million loan provided by CrossHarbor Capital Partners Insurance Co. in 2021.View on map
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Address1555 Ellinwood Street
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