David Schwartz And Julie Heigel Acquire Multifamily Complex In Lisle From JVM Realty For $77.5M

The property asset involved in this transaction is a 310-unit apartment complex known as Avant at the Arboretum, located at 450 Warrenville Road in Lisle. The sale price for the asset was $77,500,000, reflecting a price per unit of $250,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $77,500,000
• Buyer: David Schwartz & Julie Heigel - Waterton
• Seller: JVM Realty
• Brokers: Pete Evans & Richard Evans - Berkadia
• Units: 310
• Market: Lisle

This transaction expands Waterton's Chicago-area portfolio to 7,000 units. The buyer plans renovations to enhance the units and amenities, indicating a strategy to capitalize on the strong suburban rental demand reflected in the sale.