Wintrust Bank announced the closing of $54,512,550 in debt financing to TLC Management Co. for their acquisition of The Iroquois Club, a 272-unit, mid-rise multifamily apartment community located at 1101 Iroquois Ave. in Naperville, Illinois. TLC will implement a value-add program to further enhance the property’s in-unit finishes, along with other communal-wide improvements.
TLC Management Co. is a full-service leasing and management company, as well as one of the largest owners of apartment buildings in the greater Chicagoland area with nearly 6,000 units under ownership/management.
Vice President Jason Baeten of Wintrust Bank’s Commercial Real Estate group handled the loan closing.
