JLL Capital Markets arranged joint venture equity and financing for Marq on Main, a newly built, fully amenitized, boutique apartment asset in the affluent Chicago suburb of Lisle, Illinois. JLL worked on behalf of Marquette Companies to arrange a joint venture equity partnership with Principal Real Estate Investors. In addition, the team worked on behalf of the new partners to place a fixed-rate loan with a correspondent life company lender.
Marq on Main comprises a mix of 202 condo-quality, one- and two-bedroom units averaging 816 square feet as well as 13,433 square feet of ground-floor retail space. Located at 4755 Main Street, the property’s finishes and amenities include quartz countertops, stainless steel appliances, wood-style flooring, state-of-the-art clubroom, 2,500-square-foot fitness facility, resort-style pool, tech lounge and a 237-stall, heated underground parking garage with electric car charging stations. Completed earlier this year, the transit-oriented property is steps from the Lisle Metra Station and near Interstates 55, 88 and 355, which provides accessibility around the Chicago Metro.
The JLL Capital Markets team representing the Marquette Companies and the newly formed joint venture was led by managing director Matthew Schoenfeldt.