NAPERVILLE, IL - Inland Real Estate Brokerage & Consulting announced the successful sale and closing of a portfolio of 313-units at Huntington Condominiums, located in Naperville, Illinois, for $34 million. Paul Montes, vice president, and Eric Spiess, vice president of Inland Brokerage & Consulting, were the sole brokers in the transaction.
Located at 20 South Naper Boulevard, the property consists of 356-units in 16 buildings on a 21-acre site. The property was built in 1973 and includes a mix of one- and two-bedroom units, ranging in size from 725 square feet to 1,100 square feet. Each unit features full kitchens, air conditioning, fireplaces, high speed internet access and select units feature full-size washers and dryers. Parking for residents is available via an underground parking garage and a large surface lot.
The property maintains high occupancy given its excellent physical condition and amenity-rich setting that features a clubhouse, two swimming pools, a pool house, tennis courts, playground and landscaped grounds with lagoons. It is also conveniently located 10 minutes from shops, restaurants and entertainment in downtown Naperville, and provides easy access to the Naperville and Lisle, Illinois school districts.
“This off-market transaction moved very quickly, as we had a motivated buyer who expressed great interest in the property when it was presented,” said Montes.
“This mid-size apartment deal is one of many we have already brokered this year,” said Paul Rogers, president and managing broker of Inland Brokerage & Consulting. “The multifamily market continues to be red hot.”