The Laramar Group acquired a 294-unit multifamily community in Chicago’s west suburban market. The Easton Downers Grove is located at 2845 Easton St. in Downers Grove, Illinois, part of an established, infill market in Southeast DuPage County.
FPA Multifamily, LLC sold the asset.
Originally constructed as condominiums in 2009, The Easton Downers Grove is comprised of three seven-story concrete buildings and five three-story townhome buildings in a unique living environment with a variety of floor plans. The property offers a distinctive mix of quiet suburban living, access to parks and recreational preserves, and proximity to the upscale Oak Brook shopping mall, as well as popular restaurant and entertainment destinations.
The property’s strategic location offers residents convenient access to major thoroughfares, connecting to key employment hubs including the I-88 Technology Corridor, Oak Brook’s business district, and the I-55 industrial and distribution corridor.
The sale and financing were done by JLL’s Capital Markets team. JLL’s Investment and Sales Advisory team was led by Managing Directors Kevin Girard and Mark Stern, Director Zach Kaufman, and Senior Analyst Betsy Romenesko. JLL’s Debt Advisory team was spearheaded by Senior Managing Director Danny Kaufman, Director Medina Spiodic, and Associate Rebecca Brielmaier.
The community includes 24 townhomes with attached garages, 39 penthouse units, and 111 climate-controlled underground parking spaces, along with a heated swimming pool, sundeck, and multiple community courtyards and grilling stations. Planned unit renovations include new kitchen and bathroom cabinets, countertops, appliances, flooring, custom closets, as well as enhancements to the common areas.
