Northmarq arranges sale and financing of Valley Lo Towers apartment community in Glenview, IL

GLENVILLE, Ill. — Northmarq’s Midwest Multifamily Investment Sales team led by Parker Stewart, Dominic Martinez, Alex Malzone and Jake Lamb, in collaboration with its Minneapolis Debt + Equity team led by Patrick Minea, successfully completed the sale and acquisition financing for Valley Lo Towers, a 112-unit multifamily housing community located at 1920 Chestnut Ave in Glenview, Illinois.

Northmarq completed the sale on behalf of the seller, Marquette Companies. The buyer was Heartland Realty Investors Inc.

“Valley Lo Towers is a generational asset located in the No. 2 school district in America, and we’re excited to see Heartland Realty Investors reap the benefits of the strong organic growth in the northwest suburbs of Chicago,” Malzone said. “We are pleased to have been able to facilitate such a seamless transaction between Marquette and Heartland.”

Partnering on this deal, Northmarq arranged the permanent-fixed financing through the firm’s in-house Fannie Mae DUS platform. The transaction was structured on a 10-year term.

“This transaction was a great opportunity for Heartland Realty Investors to add to their Chicago portfolio,” Minea said. “We were happy to facilitate this successful financing on behalf of the buyer and seller. It was fun to be involved with both parties, including Heartland being a repeat client.”

Built in 1987 and renovated in 2010, Valley Lo Apartments feature one-, two- and three-bedroom apartments with modern amenities and stylish finishes. Units include white shaker-style cabinetry, quartz countertops, tile backsplashes, plank wood flooring, spacious master bedrooms, oversized closets, in-home washer and dryer, spacious private balcony, high-speed internet access, and free private storage space on the same floor as the apartment.

Community amenities include heated indoor parking, clubhouse and community room, gourmet grilling area, bocce ball court and outdoor games, tennis court and lights, 24-hour emergency maintenance, a pet-friendly environment and ample guest parking.

Valley Lo Towers is conveniently located near Interstates 94 and 294 and is blocks from the Metra train station. It boasts close proximity to top-rated schools, a park district and library. IT is near the Glen Tower Center, which offers shopping, dining and entertainment, and it is minutes from other shopping, grocery and coffee options. It is roughly 23 miles from downtown Chicago.