Northmarq arranges sale of 165‑unit Grove at Main multifamily community in Bloomington, IL

BLOOMINGTON, Ill. — Northmarq’s Midwest Multifamily Investment Sales team of Alex Malzone, Jake Lamb, Parker Stewart and Dominic Martinez arranged the sale of Grove at Main, a 165‑unit garden‑style multifamily community located at 102 Donnie Drive in Bloomington, Illinois.

The property, built in multiple phases from 1979 to 2003, was sold to Cinnaire Solutions. Northmarq represented the seller, Pensam.

"Grove at Main received significant interest due to the completed systemic renovation program, exceptional in-place yield and the strength of the Bloomington-Normal market. These factors resulted in double-digit written offers from investors across the country,” said Malzone.

“While Cinnaire Solutions is well-known as an affordable developer, the organization recently began looking to acquire apartment communities as part of its ‘missing middle strategy’ — an effort to expand their business in the face of elevated construction costs and support households across a wider range of incomes.”

Chris Laurent, president of Cinnaire Solutions, said, “We’re grateful to Northmarq for introducing us to a vibrant market in Central Illinois, and we look forward to serving the broader community.”

Grove at Main offers a diverse mix of one‑ and two‑bedroom floorplans, averaging 918 square feet per unit. Many homes feature in‑unit washers and dryers, private balconies or patios, and recent interior updates including LVP flooring, upgraded lighting, modern cabinetry, and renovated kitchens and baths in select units.

The 16-building property has been extensively improved, with more than $5.1 million in capital upgrades completed since 2021. Enhancements include interior renovations to 158 units, updated roofs and windows, landscaping, exterior stair replacements and mechanical improvements.