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Chicago & Midwest  + Greater Chicagoland  + Apartments  | 

Ranch Townhomes Fetch $19M in Naperville

CBRE arranged the sale of Ashwood Place Apartments, a 60-unit ranch townhome community at 4209 Pond Willow Rd. in Naperville, IL. CBRE represented the seller, a regional private developer.

Ashwood Place Apartments was purchased by a national investment firm based in California for $18.55 million. CBRE’s Justin Ross and David Guenther represented seller S.R. Jacobson Development Corp.

Built in 2018, Ashwood Place Apartments presents private suburban single-story living to renters. S.R. Jacobson Development Corp. was one of the first to bring purpose-built townhome rental living to the Chicago suburbs.

“The property represents unique product in the market, and we were well-positioned to give it the proper exposure,” said Ross. “With an overwhelming amount of interest, investors were drawn to the strong market fundamentals in Naperville as well as the property performance and distinctive livability offered to tenants.”

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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