FPA Multifamily Acquires 758-Unit Apartment Property in Suburban Chicago

WHEATON, ILL. — FPA Multifamily LLC has acquired Wheaton Center, a 758-unit apartment property in the western Chicago suburb of Wheaton. The purchase price was not disclosed. Wheaton Center consists of six buildings, including two 20-story towers and four mid-rise buildings. Units average 927 square feet. Community amenities include a resort-style pool with cabanas, a fitness center, community room, conference room, pet spa, bark park and playground. The property was most recently renovated in 2017. Marty O’Connell, Sean Fogarty, Wick Kirby and Kevin Girard of HFF represented the seller, a joint venture between Draper and Kramer Inc. and Edge Principal Advisors LLC, which had purchased the property for $44.4 million in 2014, according to the Chicago Tribune.