Haven on Long Grove in Naperville Township, Illinois

Standard Real Estate Investments, The Vistria Group Acquire Haven on Long Grove in Chicago Suburb for $94 Million

by Channing Hamilton

NAPERVILLE TOWNSHIP, ILL. — Standard Real Estate Investments and The Vistria Group have purchased Haven on Long Grove, a 416-unit naturally occurring affordable housing community in the Chicago suburb of Naperville Township. The buyers acquired the property from Pensam Capital for $94 million. The acquisition includes the assumption of an existing, fixed-rate Fannie Mae mortgage serviced by M&T Bank. John Jaeger of CBRE brokered the off-market transaction.

Situated on 34 acres, Haven on Long Grove comprises 248 apartment-units and 168 townhomes. Apartment units come in one- and two-bedroom floor plans. Units feature full size washers and dryers, walk-in closets and private balconies. The townhome units include attached garages and driveways. Select townhomes also feature private fenced yards.

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