BOLINGBROOK, ILL. — Steadfast Apartment REIT has acquired a 374-unit apartment community located in Bolingbrook, approximately 25 miles southwest of Chicago, for $58.5 million. A public, non-traded REIT, Steadfast purchased the property from Friedkin Real Estate and Jackson Square Properties. Meadows at River Run offers one-, two- and three-bedroom apartments ranging from 670 square feet to 1,262 square feet. The community was built in 2001, and unit amenities include washers and dryers, walk-in closets and fireplaces. Community amenities feature a swimming pool, fitness center, business center and pet park. The complex was 93 percent occupied at the time of sale. Steadfast plans to complete improvements including new lighting, plumbing, stainless steel appliances, faux wood blinds and upgraded countertops. Marty O’Connell of HFF represented the sellers in the transaction. Steadfast Apartment REIT was self-represented.
Meadows at River Run is a 374-unit apartment complex that was built in 2001.
Steadfast Apartment REIT Acquires 374-Unit Apartment Complex in Chicago Suburb for $58.5M
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