EQT Exeter’s U.S. Multifamily team recently acquired the 380-unit Reserve Randall Road in West Dundee in an off-market deal. EQT Exeter’s fully integrated property management company, Redwood Residential, will manage the property.
Formerly called Seasons at Randall Road, the garden-style property is located in Chicago’s Northwest suburbs at 400 Randall Road and comprises 19 two-story buildings. Reserve Randall Road totals 402,933 square feet and features studio, one-, two- and three-bedroom layouts.
The seller, Milwaukee-based Fiduciary Real Estate Development, developed the community in two phases. Phase I was completed in 2021 and consists of 300 units while Phase II was delivered earlier this year and consists of an additional 80 units.
The amenity package at Reserve Randall Road includes a clubhouse with complimentary coffee bar, entertainment lounges and fully equipped fitness center, a resort-style pool, exterior gas firepit, grilling station and dog park.
Each unit has its own private entrance and oversized balcony or patio. Class-A finishes include stainless steel appliances, contemporary paneled doors with satin nickel finish hardware, nine-foot ceilings, quartz countertops with under-mount sinks in bath and kitchen, Kohler fixtures, spacious walk-in closets, designer plank flooring and in-unit washer and dryer.
Through its in-house construction management division, the EQT Exeter U.S. Multifamily team will project manage a series of select enhancements to the property. These include upgrading the outdoor grill area and dog park, the addition of a cabana to the pool area, implementation of a KeyTrak management system and miscellaneous upgrades to the parking lot, sidewalks and landscaping.
West Dundee is located along the Fox River in growing Kane County. Reserve Randall Road is surrounded by forest preserves, nature trails, highly ranked schools and popular retail options. The property offers access to jobs and amenities in downtown Chicago via the nearby Jane Addams Memorial Tollway and is less than 30 minutes from O’Hare International Airport.
