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JVM Realty Acquires Luxury Apartments in Suburban Chicago
JVM Realty Corp., a multifamily real estate investment and property management firm, has acquired Ellison Apartments, a newly constructed, 113-unit luxury apartment community in Des Plaines, Illinois. “This property aligns perfectly with our investment approach, emphasizing quality and convenience for our residents and exceptional value for our partners,” said Jay Madary, president and CEO of JVM.
Located at 1555 Ellinwood Avenue, Ellison Apartments was completed in 2019 and provides studio, one-bedroom and two-bedroom layouts. The property features modern amenities, including a pool, work pods, a coffee bar, and a business center. The building will also feature first-floor retail space.
CBRE brokered the deal. “The Ellison is an exceptionally well-built and highly amenitized boutique multi-family asset,” said John Jaeger, an executive vice president in CBRE’s Chicago office.
This is the ninth Illinois property in JVM’s current portfolio. The company owns and operates a multifamily portfolio exceeding $1.5 billion in the greater Midwest.
