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Historic Chicago-Area Adaptive Reuse MXU Sold

Fifth Avenue Station, a mixed-use property consisting of 118 loft-style apartments and 94,422 square feet of commercial space in Naperville, IL, has traded hands. San Francisco-based Friedkin Realty Group, Inc. and Bridge Capital Partners, Inc. acquired the property located roughly 30 miles west of Chicago, for an undisclosed amount from 5thAvenue Station LLC.

Constructed in 1918, the building is a former Kroehler Furniture factory, which is now listed on the National Registry of Historic Places. It underwent an adaptive reuse renovation from 1986 to 1988, including extensive interior and exterior work. Both the apartment homes and office component are near 100% occupied.

The property is near Naperville’s Metra station and vibrant downtown, and it offers amenities such as a grand community room, a fitness center and a rooftop deck with grilling stations.

CBRE’s Dan Cohen and John Jager represented the seller.

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Connect With CBRE’s CohenConnect With Friedkin Realty Group, Inc.Connect With Bridge Capital Partners, Inc.

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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