JVM Realty Corp., a leading vertically integrated multifamily real estate investment and property management firm in the Midwest, has acquired a 240-unit luxury apartment community in the Chicago suburb of Romeoville.
Seasons at Romeoville, which will be renamed The Bluffs, was purchased from Fiduciary Real Estate Development, an active seller this year. Fiduciary selected JVM as the buyer as it had recently concluded a prior transaction with the firm in Wisconsin.
“We are thrilled to add another best-in-class investment opportunity to our growing portfolio,” said JVM president and CEO Jay Madary. “The combination of luxury, style, and convenience this property provides, along with JVM’s award-winning management team delivering a superior resident experience, positions the property to perform at a high level for years to come.”
With this acquisition, JVM, based in Oak Brook, Illinois, owns and manages seven apartment communities in its home state and 22 communities representing $1.6 billion in assets under management throughout the Midwest.
Built in 2021, The Bluffs offers layouts ranging from junior one-bedrooms to three-bedroom, two-bathroom units. Spacious units feature private direct entries; contemporary finishes, such as plank-style flooring and quartz countertops; and full-size washers and dryers. Many units come with an attached garage and private patio or balcony.
The 21-acre site also delivers a wealth of amenities, including a 24-hour fitness center, a clubhouse with a caterer’s kitchen, a pool with a sundeck, an outdoor living room with grilling stations and a fireplace, and a dog park and pet washing area.
The community also is in a prime location in Will County, 45 minutes southwest of downtown Chicago. The county’s employment base has grown over the past decade, with three state-ranked hospitals and employers such as Amazon, FedEx, Wayfair, WeatherTech, and Lewis University. The location also provides residents with easy access to interstates 55 and 80.
The JLL Capital Markets Investment Advisory team, led by senior director Wick Kirby, director Amanda Friant, and senior director Kevin Girard, represented the seller.
