Boutique Arlington Heights Apartments Sell for $25M

JLL has arranged the $25 million sale of FourNorth Apartments, a 76-unit boutique apartment community in Arlington Heights, Illinois.

JLL worked exclusively on behalf of the seller, Benchmark Developers, in the sale of the property to a private investor. JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Bill Baumann, David Gaines and Sam Grohe.

Completed in 2024, FourNorth Apartments offers studio, one- and two-bedroom units averaging 796 square feet. The five-story, pet-friendly building is 95% occupied.

FourNorth Apartments is located at 4 North Hickory Road within walking distance of the shops, restaurants and entertainment options in Downtown Arlington Heights. “FourNorth Apartments attracted a significant amount of investor interest due to the core quality of the asset itself, as well as its unbeatable suburban location in Arlington Heights, an affluent northwest suburb of Chicago that also boasts fantastic market fundamentals with just one other property built within the last five years,” said Baumann.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

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