Northmarq facilitates sale of Springs at Weber Road in Romeoville, Illinois

ST. LOUIS, Mo. — Northmarq’s Midwest Multifamily Investment Sales team, led by Alex Malzone, Dominic Martinez, Parker Stewart and Jake Lamb, arranged the sale of Springs at Weber Road, a 292-unit luxury garden-style apartment community located in Romeoville, Illinois.

The property was built in 2016 and offers a rare opportunity to gain immediate scale in Chicago’s growing southwest suburbs.

Northmarq represented the seller, Continental Properties Co. Inc., in the transaction. The buyer was an affiliated entity of The Solomon Organization.

"Springs at Weber Road received strong interest from investors across the country, generating 20+ offers, exemplifying the tremendous demand for the Chicago suburbs today,” said Malzone. “Capital is seeking opportunities in suburban Chicago due to strong fundamentals including the limited new supply of apartment communities, strong renter demand, and superb rent growth.”

Springs at Weber Road features a well-balanced mix of studio, one-, two- and three-bedroom floorplans averaging 986 square feet, with private entries and attached garages in select units.

The gated community delivers a best-in-class amenity package including a resort-style swimming pool, 24-hour fitness center, modern clubhouse, pet spa and playground, on-site car care station, outdoor grilling areas and garage parking.

Strategically positioned within Chicago’s I-55 corridor, the property offers convenient access to major employment centers and is minutes from shopping, dining and entertainment in Romeoville, Naperville and Bolingbrook.