Naperville-based The Marquette Companies has announced the purchase of Two Itasca Place, a condominium property in Itasca, originally developed by Bloomingdale-based Donald E. Morris Enterprises. Marquette is converting the property to apartments and will serve as the property manager for the community.
The community was originally developed as Itasca Place, which consisted of a north building called One Itasca Place and a south building called Two Itasca Place, each with 70 units. One Itasca Place will remain for-sale condominiums, and is nearly completely sold, while Two Itasca Place will be entirely high-end rental apartments.
The Marquette Companies purchased the property from Donald E. Morris Enterprises and worked with West Suburban Bank on the transaction. West Suburban Bank is also providing financing to Marquette for the purchase and planned improvements. Marquette is finishing the units, which are currently at the roughed-in, dry wall stage. The first rental units are expected to be available this spring.
Two Itasca Place is a 5-story all-brick building consisting of one- and two-bedrooms with den units with one-and-a-half to two-and-a-half baths, balconies or terraces, and some units have dens. Apartments will be offered in 14 floor plans measuring 1,115 to 2,173 square feet and will lease for $1,505 to $2,934 per month. There is an underground, structured parking garage with elevator access from the garage.
Two Itasca Place also is located right next to the Medinah Golf Course and Eaglewood Resort and Spa. The property is located at the corner of Rohlwing and Nordic roads in Itasca.
