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| Woodlands of Crest Hill, Crest Hill, IL |
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| Sean Fogarty |
CHICAGO, IL – HFF announced today that it has closed the
sale of the Woodlands of Crest Hill, a 730-unit multi-housing community
in Crest Hill, Illinois and the Fountains at Stone Crest, a 400-unit
multi-housing community in Westmont, Illinois.
HFF marketed the properties on behalf of the seller, a joint
venture between MetLife, Redwood Capital Group and Westdale Asset
Management. The transactions were part
of a three-property portfolio with the third property sold in a separately
marketed transaction.
The Woodlands of Crest Hill is located at 1615 Arbor Lane
immediately north of Joliet and approximately 44 miles southwest of downtown
Chicago.
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| Marty O'Connell |
Situated on 26.65
acres, the garden-style property has undergone kitchen and bath renovations as
well as other property upgrades throughout the past few years and includes a
mixture of studio, one and two-bedroom units averaging 649 square feet
each.
Community amenities include a fitness center, clubhouse,
swimming pool with sundeck, playground, sand volleyball court and jogging
trails.
The Fountains at Stone Crest is located at 1 Fountainhead
Drive approximately 10 minutes north of Argonne and 26 miles southwest of
downtown Chicago in DuPage County.
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| Matthew Lawton |
The property was completed in two phases in 1966 and 1975,
and has one- and two-bedroom units averaging 971 square feet each. Community amenities include a
5,300-square-foot clubhouse consisting of a great room, business center,
fitness center and indoor racquetball court as well as a swimming pool with
sundeck, playground and picnic area.
The HFF investment sales team representing the seller was
led by managing directors Sean Fogarty and Marty O’Connell and
executive managing director Matthew Lawton.
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| Fountains at Stone Crest, Westmont, IL |
For a complete copy of the company’s news release, please
contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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