CHICAGO, IL - Lowe Enterprises Investors (LEI), in joint venture with an institutional investor, has acquired The Reserve Glenview, a 239-unit transit-oriented apartment community which opened in 2015, located in the premier North Shore submarket of suburban Chicago. Set on 7.59 acres at the intersection of Waukegan and Golf Roads, it is immediately adjacent to the Golf Transit Metra Station and a new retail center providing grocery, restaurants, shops and services.
“The Reserve Glenview is a well-designed, new community with a prominent location in North Shore, one of the best performing rental markets in suburban Chicago,” said Andy Sands, managing director, LEI. “It provides easy access to the area’s major employers and is steps away from public transit for commuting to downtown Chicago.”
Located at 195 Waukegan Road, the community is designed with three-story buildings wrapping around a center parking structure. The community is an attractive option for professionals and families with a variety of floor plans and units ranging from studio and one bedroom up to spacious three bedrooms. All provide in-unit washer/dryer and designer interiors with modern fixtures and finishes.
Residents have abundant on-site amenities including a resort-style pool, outdoor kitchen/barbecue and picnic area, tranquil landscaped courtyard with fire pit, resident lounge and coffee bar, fitness center and executive business center.
“The Reserve Glenview is proximate to dozens of major companies headquartered between North Shore and Downtown Chicago, which are easily accessible with the adjacent Metra line. This property is a successful example of a high density urban project located in a premier suburban area with high barriers-to-entry,” says Sands.
The Reserve Glenview is a LEED Silver Certified property. Among its many green features are several energy and water efficiency systems.
LEI is an active investor in multifamily properties. In the greater Chicago area, the firm’s portfolio includes the 612-unit Bourbon Square in Palatine and the 210-unit Fairways of Naperville.
Greystar has been engaged to provide property management.