HOFFMAN ESTATES, ILL. — Bender Cos. has purchased Haven Hoffman, a 550-unit garden-style community in Hoffman Estates, about 33 miles northwest of downtown Chicago. Tricap Residential Group and Wolcott Group sold the asset for $77.3 million.
Located at 725 W Bode Cir., Haven Hoffman offers a mix of studio, one- and two-bedroom floor plans. The average unit size is 746 square feet. Amenities include a pool, fitness center, clubhouse, work-from-home suites and picnic areas with grilling stations. The property was built in 1970. The previous ownership invested approximately $3.3 million into renovating the units and $1.2 million into enhancing the amenity spaces.
JLL Capital Markets represented the sellers in the deal. Additionally, JLL worked on behalf of the buyer to secure a $54.8 agency lending loan through Freddie Mac. The five-year, fixed-rate loan will be serviced by JLL Real Estate Capital LLC.
Kevin Girard, Mark Stern and David Gaines, Zach Kaufman, Betsy Romenesko and Sam Grohe led JLL’s investment and sales advisory team. Trent Niederberger, Medina Spiodic and Rebecca Brielmaier led JLL’s debt advisory team.