Artemis Real Estate Partners Acquires 242 Unit Multifamily Complex In Warrenville For $59M

The property involved in the transaction is a 242-unit multifamily complex located at 28262 Diehl Road in Warrenville, Illinois. The sale price for the asset was $59,000,000, equating to approximately $243,802 per unit. The market for this property is identified as Warrenville.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $59,000,000
• Units: 242
• Price Per Unit: $243,802
• Buyer: Deborah Harmon & Alex Gilbert - Artemis Real Estate Partners
• Seller: Lakeside Capital Advisors
• Brokers: John Jaeger, Justin Puppi, Jason Zyck, Danny Zebowski & Pete Marino - CBRE
• Lender: RPM Living & Hartford Investment Management

Lakeside Capital Advisors sold The Westlyn to Artemis Real Estate Partners with financing facilitated by RPM Living and Hartford Investment Management. CBRE's brokers played a significant role in this transaction, representing the seller during a time when investor interest in suburban Chicago multifamily properties is growing due to strong rent growth observed in DuPage County compared to Cook County.