Connect CRE Chicago

Naperville Mixed-Use Sets Pricing Record

December 22, 2021

Essex Realty Group recently facilitated the sale of The Washington, located at 720 N. Washington St. in Naperville, IL. Completed in late 2018, the mixed-use property traded for $6,833,200, or more than $683,000 per unit.

Managing director Brian Karmowski represented the seller, a development group led by Joshua Voit, in this transaction.

“At over $683,000/unit and 99% of list price, The Washington represents the highest $/unit for a Naperville mixed-use property in the past several years, setting a record for the submarket,” said Karmowski. “The high level of activity in just a matter of days demonstrates not only the efficacy of the Essex marketing plan, but the current demand for quality suburban assets – especially in DuPage County.”

Plonis added, “We believe there is long-term investment potential ahead as Naperville continues to appreciate and attract luxury renters.”

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Tagged in this post: Brian Karmowski