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| Lincoln at Ovaltine Court, Villa Park, IL |
HFF is marketing the property on behalf of the seller, a
joint venture between Lincoln Property Company and the AFL-CIO Building
Investment Trust, for an undisclosed amount free and clear of debt.
 |
| Matthew Lawton |
Lincoln at Ovaltine Court is close to the Interstate 294 and
Interstate 88 intersection in eastern DuPage County in Villa Park. Built within the former headquarters of the
popular cocoa drink, Ovaltine, the building consists of 344 apartment homes and
six retail spaces on a 14-acre site bordered on one side by the historic
Prairie Path.
The residential component of the property is 96 percent
leased and includes a mixture of garden- and loft-style units ranging in size
from 783 to 1,318 square feet.
Community amenities include a state-of-the-art fitness center, business
center, clubroom, outdoor swimming pool and sundeck.
 |
| Sean Fogarty |
The HFF investment sales team representing the seller is led
by executive managing director Matthew Lawton and managing directors Sean
Fogarty and Marty O’Connell.
“The historic design and unique layout of this asset
provides an opportunity to investors not found anywhere else in the booming Oak
Brook submarket.
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| Marty O'Connell |
The development of
this unique property differentiates it from competitors and capitalizes on the
core group of renters that desire the downtown loft lifestyle but want to
remain in the suburbs as well as appealing to more traditional suburban
renters,” said Lawton.
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com
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