Wingspan Development Trades Plainfield Apartments in Off-Market Deal

Wingspan Development Group sold Sixteen30, a 284-unit Class A apartment community it developed in Plainfield, IL, about 40 miles southwest of Chicago. Menomonee Falls, WI-based Continental Properties acquired the property, located at 14750 Wallin Dr. and opened in August 2021.  

Northmarq’s Alex Malzone, Parker Stewart and Dominic Martinez brokered the sale. Terms weren’t disclosed. 

“Until recently, Plainfield – like neighboring Naperville – has seen much more for-sale single-family home development than luxury rentals,” said Christopher Coleman, VP of development for Wingspan. “But as evidenced by our strong leasing numbers, there is an undeniable demand for the lifestyle and amenities offered by Sixteen30.”   

Malzone said, “This was a targeted, off-market deal in which Continental was a great fit for Sixteen30 as the firm is very familiar with Chicago’s southwest suburbs. We’re equally excited for Wingspan Development as Sixteen30 was a terrific investment for its team and we’re looking forward to seeing Continental reap the benefits of the organic growth of the Plainfield market for years to come.”

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