100% LEASED NEWLY CONSTRUCTED NAPERVILLE ILLINOIS PROPERTY WAS NAMED WAS NAMED NAIOP MULTI-FAMILY DEVELOPMENT OF THE YEAR
MZ Capital Partners, developer of the Vantage Naperville Apartments at 1350 E Ogden in Naperville, Illinois, has announced the sale of the 100 % leased 112-unit, full amenity apartment community. The sales price was $24,000,000 and the purchaser was an affiliate of New York based iconic property owner 601W Companies.
Other Chicago area properties owned by 601W include the Old Post Office redevelopment and Aon Center.
The award-winning ground up new construction development, which reached full occupancy in a record setting 90 days, sold approximately one year after receiving its building completion Certificate of Occupancy.
Situated at the gateway to the revitalized Ogden Area Corridor, the Vantage offers bright studio and 1-bedroom convertible apartments with 9-foot ceilings, in-home full-size washers/dryers, and stainless-steel appliances. Featuring private work from home office suites, 24/7 smart package delivery and pickup, high speed fiber optic internet connection, and balconies in select units, the Vantage represents high end urban style living in an attractive suburban setting.
The transaction was brokered by JLL Capital Markets in Chicago.
MZ Capital Partners, headquartered in Northbrook, Illinois is a demographically driven real estate investment firm with a specialty niche in multifamily assets throughout the United States. The firm has been recognized with placement on the INC 500 list of the fastest growing private companies in America and was named overall winner of "Best Places to Work" in the multifamily industry by the National Apartment Association.
