Jones Lang LaSalle Inc.

10/21/2021 | Press release | Distributed by Public on 10/21/2021 10:12

Value-add apartment and townhome asset in DuPage County sells to active Chicago investor

CHICAGO - Oct. 21, 2021 -JLL Capital Markets announced that it has closed the sale of Oak Brook Heights, a 408-unit, garden-style multi-housing community on the border of Westmont and Oak Brook, in West Suburban Chicago, Illinois.

JLL marketed the property on behalf of the seller, Investcorp, a leading global provider and manager of alternative investment products. FPA Multifamily acquired the asset.

Oak Brook Heights comprises one-bedroom apartments and two- and three-bedroom townhomes averaging 990 square feet. Units feature balconies/patios, in-unit washer and dryers and large walk-in closets. The community offers a resort style-pool, soccer field, grill and picnic area, tennis court and fitness center.

Located at 201 West Oakley Dr., the property is situated nearby Ogden Avenue, Butterfield Road and Interstates 294, 88 and 355 offering access to Chicago's international airports, CBD and surrounding suburbs' area amenities. Only a 10-minute drive from Oak Brook Heights is one of Chicagoland's most prestigious shopping centers, Oak Brook Center, the largest outdoor mall in the country. Also, within a 10-minute drive from the community, Yorktown Center provides the ultimate area amenity for top retail, dining and entertainment options.

The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Senior Managing Director Marty O'Connell, Senior Director Kevin Girard, Senior Managing Director Matt Kafka and Executive Managing Director Matthew Lawton.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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FPA Multifamily, LLC is a real estate operating company focused on the acquisition, renovation and management of both core plus and work force housing apartment communities. Founded in 1985, FPA has owned over 130,000 apartment units valued at over $16.4 billion. FPA is currently investing through its value-add focused FPA Apartment Opportunity Fund VII which will acquire approximately $3.0 billion of assets and its core-plus focused FPA Core Plus Fund V which will acquire approximately $1.9 billion of assets. Headquartered in San Francisco, FPA also has offices in Atlanta, Chicago, Dallas, Denver, Irvine, Minneapolis, and Washington DC. For more information, please visit