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Naperville Mixed-Use Sets Pricing Record
Essex Realty Group recently facilitated the sale of The Washington, located at 720 N. Washington St. in Naperville, IL. Completed in late 2018, the mixed-use property traded for $6,833,200, or more than $683,000 per unit.
Managing director Brian Karmowski represented the seller, a development group led by Joshua Voit, in this transaction. Kiser Group advisor Ron Plonis represented the buyer.
“At over $683,000/unit and 99% of list price, The Washington represents the highest $/unit for a Naperville mixed-use property in the past several years, setting a record for the submarket,” said Karmowski. “The high level of activity in just a matter of days demonstrates not only the efficacy of the Essex marketing plan, but the current demand for quality suburban assets – especially in DuPage County.”
Plonis added, “We believe there is long-term investment potential ahead as Naperville continues to appreciate and attract luxury renters.”
- ◦Sale/Acquisition
