Northmarq Arranges $67M Sale of Two Chicago-Area Apartment Properties

Northmarq’s Midwest Investment Sales team of Parker Stewart, Dominic Martinez, Alex Malzone, and Jake Lamb successfully led the sale of two Chicagoland multifamily apartment communities for a total of $67.25 million.

The properties include Westmore Apartments, a 230-unit garden apartment located at 1049 S. Westmore-Meyers Rd. in Lombard, Illinois and Whispering Trails, a 120-unit garden apartment located at 103 S. Testa Dr. in Naperville, Illinois.

Northmarq represented the seller, Axiom Properties Inc., for both properties. B & A Property Group, LLC, bought Westmore Apartments for $46 million. FPA Multifamily purchased Whispering Trails for $21.25 million. “The strong interest we saw across both properties reflects the long-term upside of these assets and the quality of their locations within DuPage County,” said Stewart.

Built in 1968, Westmore Apartments is a 230-unit garden-style community situated on approximately 11.5 acres in Lombard. The property is currently 98% occupied and offers a mix of one-, two- and three-bedroom floorplans. Whispering Trails, built in 1985, is a 120-unit garden-style community located in the heart of Naperville. The all-two-bedroom community was built in 1985.

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