PRESS ROOMNEWS RELEASE
Inland Real Estate Commercial Brokerage, Inc. Completes 248-Unit Multifamily Sale in Aurora, IllinoisNovember 30, 2020
Oak Brook, Ill. – Inland Real Estate Commercial Brokerage, Inc. (“Inland Commercial Brokerage”) today announced the sale and closing of Fox Pointe Apartments at 2074 Fox Pointe Circle in Aurora, Illinois. Paul Montes and Eric Spiess, senior vice presidents of Inland Real Estate Commercial Brokerage, facilitated the transaction on behalf of the seller.
The 248-unit multifamily complex was developed by New Directions Housing Corporation (“New Directions”), a non-profit 501(c)(3) charitable corporation that has developed or rehabilitated affordable housing for residents throughout Illinois, and includes 17 residential properties on 16.5 acres of land. Chicago-based Ameritus Real Estate Investment Management (“Ameritus”) purchased the community.
Fox Pointe Apartments consists of two- and three-bedroom units, ranging from 928 to 1,155 square feet. Each apartment features a full kitchen and pantry, full size washer and dryer, private entry and outdoor space. Property amenities include a clubhouse, swimming pool and sundeck, a pond, walking trails and a community park. Fox Pointe Apartments’ is located near Rush Copley Medical Center and offers convenient access to shopping destinations including Fox Valley Mall, Aurora Premium Outlets, Costco, Whole Foods, Jewel and Sam’s Club. Golf courses, recreational parks and forest preserves are also located nearby.
“We greatly appreciate the collaborative efforts of both New Directions and Ameritus for the completion of this sophisticated and intricate transaction,” said Montes. “New Directions developed this community from the ground up and built an over 20-year stewardship of family friendly, affordable housing. We look forward to Ameritus’ commitment to continue this mission, through the addition of property enhancements and green initiatives.”
About Inland Real Estate Commercial Brokerage, Inc.
Inland Real Estate Commercial Brokerage, Inc. is a boutique brokerage firm providing real estate solutions for sales and exchanges for private, public and institutional owners/managers of commercial investment real estate. Throughout Inland’s history, its brokerage entities have closed on more than $1.3 billion including 8,700 multifamily apartments and 140 million square feet of commercial real estate. For more information, please visit www.inlandbrokerage.com.