AURORA, IL - TGM Associates announced that it has closed on the acquisition of TGM Springbrook a two and three-story garden-style apartment community located in Aurora, IL.
TGM Springbrook, which consists of 600 one and two bedroom apartments, is located at 4101 Chesapeake Drive, Aurora, IL. The community is conveniently situated near all major highways (I-355, I-55 and I-88) and offers convenient access to public transportation via the Route 59 Metra Station for easy commuting into Chicago or other parts of the region. Centrally located within the Aurora/Naperville area, TGM Springbrook is located across the street from the Fox Valley Mall, Whole Foods, Home Depot, and other major national retailers.
"We are very excited to add TGM Springbrook to our multifamily portfolio. TGM Springbrook will complement our Schaumburg, IL community, TGM Park Meadows (576 units) very nicely," said John Gochberg , Chief Operating Officer for TGM Associates, an SEC-registered real estate investment advisory firm based in New York City. TGM Springbrook is managed by TGM Associates' management brand, TGM Communities.
TGM Springbrook, formerly Chesapeake Landings was acquired from AIMCO. This premium community features an unmatched set of amenities, including 24-hour fitness center, sauna, tennis and racquetball courts, and a dedicated clubhouse. Spacious one and two bedroom apartments include walk-in closets, separate dining rooms and private balconies or patio with storage. Select apartments also include authentic, wood-burning fireplaces.
TGM has a material renovation plan scheduled for the property. Future enhancements to the community include a brand-new, state-of-the-art fitness center, cyber cafe and resident lounge, two bark parks, upgrading kitchens and baths in all apartment homes, which will include new cabinets, countertops, contemporary appliances and lighting fixtures.
Founded in 1991, TGM Associates is an investment advisory firm with a single focus -- multifamily properties. TGM specializes in acquisitions, property management, leasing, construction, property maintenance and dispositions. On behalf of its investor clients, TGM acquires, manages and sells apartment properties throughout the United States.