Zach Solomon Of Solomon Organization Acquires Springs At Weber Road For $76 Million

The asset involved in this transaction is a 292-unit multifamily property located at 700 South Weber Road in Romeoville. The transaction was priced at $76,000,000, resulting in a per unit price of approximately $260,274.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $76,000,000
• Buyer: Zach Solomon - Solomon Organization
• Seller: James Schloemer - Continental Properties
• Brokers: Alex Malzone, Dominic Martinez, Parker Stewart & Jake Lamb - NorthMarq
• Lender: M&T Realty Capital Corporation
• Units: 292

This acquisition marks the largest multifamily sale in Romeoville since 2023 and was made possible through a $50.4 million Freddie Mac loan arranged by M&T Realty Capital Corporation. The property will be rebranded as The Reserve at Romeoville, contributing to the growth of Solomon Organization's portfolio, which includes three recent acquisitions totaling 1,156 units in the Chicagoland area.