JVM Acquires Uptown La Grange in Suburban Chicago
The two-year-old luxury apartment community in La Grange, Ill., becomes the fifth suburban Chicago property in JVM's portfolio
OAK BROOK, Ill., Oct. 9, 2019 /PRNewswire/ -- JVM Realty Corp. (JVM), a leading vertically integrated multifamily real estate investment and property management firm, today announced it has acquired Uptown La Grange, a 254-unit luxury apartment community in La Grange, Ill., a vibrant suburb located 17 miles west of downtown Chicago. JVM Management Inc. will manage the property, which was built in 2017.
Uptown La Grange marks the second suburban Chicago apartment community JVM has acquired in the last two weeks. In late September, the company completed its purchase of Randall Highlands in North Aurora, Ill. The Midwest-focused company now owns and operates five multifamily properties in the area.
"We are always excited about the opportunity to make strategic additions to our portfolio, and Uptown La Grange is an apartment community that has a tremendous amount going for it in terms of its location, its walkability and its onsite features," said Jay Madary, president and CEO of JVM. "Being a transportation-oriented development (TOD), it provides residents with extremely easy access to one of the most exciting and culturally stimulating cities in the world while still giving them a chance to live in luxury away from the hustle and bustle of the big city. All of the pieces are there for Uptown La Grange to be the premier apartment community in its submarket. I'm confident that our experience in this market and our marketing and operational expertise will make that happen."
Uptown La Grange has a walk score of 90, which is considered a "walker's paradise" and is a particularly high score for a suburban community. The community sits next to a 17-acre public park and is just a block away from the LaGrange Road Metra train station, where residents can take a 20-minute express train to downtown Chicago. It is close to several highways – including I-290, I-55 and I-294 – and is within a 25-minute drive of both major Chicago airports.
Uptown La Grange also is surrounded by a robust restaurant and retail scene. Additionally, residents are just steps away from a Trader Joe's grocery story and a Walgreen's pharmacy, and they can easily walk to a nearby Jewel-Osco grocery store.
Community amenities at Uptown La Grange include a rooftop terrace offering views of downtown Chicago; a heated pool and a sundeck with grills and a bocce ball court; a fitness center with Wellbeats virtual fitness classes, a yoga studio and Peloton bikes; and a club room with a demonstration kitchen and a coffee bar. Other common-area features include package delivery storage lockers, valet trash, a conference center/library and a gaming lounge.
Uptown La Grange offers one-, two- and three-bedroom homes as well as studios. The units feature 9-foot ceilings, Whirlpool stainless-steel appliances, quartz countertops, smart-home technology, plank flooring in all living areas, large walk-in closets and full-size washers and dryers. The homes also have private patios and balconies. Select homes have 10-foot ceilings.
About JVM
JVM is a respected name as a leader in multifamily real estate investment and property management. Since its incorporation in 1975, JVM has been committed to excellence and integrity and has striven to be the preferred choice for its investors, residents, and associates. Based in Oak Brook, Ill., it operates an $900 million multifamily portfolio in the greater Midwestern United States, including Illinois, Indiana, Kansas, and Missouri. For more information about JVM, visit our website and read our blog.
Media Contact:
Lindsey Bernhardt
LinnellTaylor Marketing
[email protected]
303.682.3941
SOURCE JVM Realty Corp.
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