CHICAGO – Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm, today announced it has brokered the sale of Springs at Oswego, a 280-unit apartment community in Oswego, Illinois, one of Chicago's fastest-growing western suburbs.
Cushman & Wakefield's Brad Smith and Jack Maloney represented the seller, Continental Properties, a national developer and operator of multifamily, retail and hospitality properties. The buyer was Oak Brook, Illinois-based JVM Realty.
Located at 801 Fifth St., and originally developed in 2019, Springs at Oswego comprises 14 two-story residential buildings situated on 27.5 acres. The townhome-style community offers studio, one-, two- and three-bedroom floorplans ranging from 623 to 1,430 square feet. Amenities include private patios or balconies, a resort-style swimming pool, outdoor grilling areas, a state-of-the-art fitness center, clubhouse, attached and detached garage options, a pet play area, and landscaped walking paths with convenient access to nearby retail destinations.
"Springs at Oswego is a best-in-class suburban community that generated exceptional investor interest, evidenced by more than 20 qualified offers," said Smith, Cushman & Wakefield Managing Director. "The property's strong demographics, on-site amenities, distinctive design and location within one of the Chicago region's fastest-growing corridors position it to benefit from sustained renter demand and long-term growth."
The property attracts a young, high-income resident base, with an average household income exceeding $138,000 and 54% of households age 34 or younger, supporting continued demand and rent growth potential. Residents also benefit from convenient access to approximately 107,000 jobs within a 15-minute drive and more than 2.2 million square feet of retail within five minutes of the community.
"Springs at Oswego has played an important role in Continental Properties’ growth across the Chicago metropolitan area and reflects our commitment to developing high-quality communities,” said Aaron Konop, Finance Director at Continental Properties. “We are proud of the community and resident experience our team established in Oswego, and we are confident JVM Realty’s operational expertise will position it for continued success."
