JLL Capital Markets arranged the $77.25 million sale and $54.809 million agency lending for Haven Hoffman, a 550-home garden-style community located in Hoffman Estates, Illinois, a northwest suburb of Chicago.
JLL represented the sellers, Tricap Residential Group and Wolcott Group. JLL also worked on behalf of the buyer and borrower, Bender Companies, to secure the five-year, fixed-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo Lender.
Haven Hoffman Estates, at 725 W Bode Circle, offers immediate access to I-90 and I-290 and is approximately 30 miles from Downtown Chicago. The community is surrounded by well-planned shopping opportunities, employment hubs and entertainment options for residents. It is also a 20 minute drive from Chicago O’Hare International Airport.
Haven Hoffman Estates, built in 1970, offers a variety of living spaces with unit sizes averaging 746 square feet and options for studios, one- and two-bedroom layouts. The community boasts a mix of classic and renovated unit interiors, with renovated units featuring modern granite countertops, stainless-steel appliances and walk-in closets. Residents enjoy a host of community amenities such as a swimming pool, fitness center, modern clubhouse, private work-from-home suites and picnic areas with grilling stations.
The property has benefited from substantial improvements, including $3.27 million in unit renovations and nearly $1.2 million enhancing community amenities. With a proven value-add program, Haven Hoffman presented substantial investment potential in a high-demand submarket with limited supply.
Hoffman Estates, a sought-after suburb of Chicago, is known for its excellent quality of life, is part of a robust employment corridor near major corporations and medical facilities, making it a prime location for families and young professionals.
JLL Capital Market’s Investment and Sales Advisory team was led by Managing Directors Kevin Girard, Mark Stern and David Gaines, Director Zach Kaufman and Analysts Betsy Romenesko and Sam Grohe. JLL Capital Market’s Debt Advisory team was spearheaded by Managing Director Trent Niederberger, Director Medina Spiodic and Associate Rebecca Brielmaier.
