REjournals: Downers Grove asset seeks $8.5 million buyer

East Village Apartments, located at 717 Rogers Avenue in Downers Grove, Illinois, has been listed for sale by Chicago-based multifamily brokerage firm, Kiser Group. The 20-unit complex comprises two, 10-unit buildings and were built in 2018 by Forth Group.

Floor plans include 18 two-bedroom/two-bathroom units and two one-bedroom/one-bathroom units with below-market-average rent of $2,196 per month. East Village Apartments is listed for $8,500,000 and represented by Kiser Group broker, Ron Plonis.

“Downers Grove is 22 miles west of Chicago and a desirable town located along Metra’s BNSF line,” said Plonis. “Located in DuPage County, residents enjoy ample employment opportunities in healthcare, sciences and other industries as well as proximity to Chicago’s employment market.”

Kiser Group anticipates investor interest from local, out-of-state and international buyers.

“This is an unusual and rare opportunity to acquire a newly constructed TOD asset with predictable and stable DuPage County property taxes,” said Plonis.

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Kiser Group Staff