Jackson Square Properties has sold the Riverstone Apartments, an affordable housing community located in Bolingbrook, Ill., a southwest Chicago suburb.
Alliant Strategic Investments and Nuveen Real Estate were the buyers.
JLL Capital Markets, represented the seller, to complete the sale to the buyers, closing on the $93.5 million sale and arranged a $60.825 million acquisition financing.
The Riverstone Apartments underwent a significant redevelopment between 2005 and 2007, using Low Income Housing Tax Credit equity. The property consists of 789 studio, one- and two-bedroom units that feature upgraded kitchens, granite-style counters, wood-style flooring and spacious closets. Community amenities include a clubhouse, two outdoor pools, two fitness centers, media center and theater, volleyball and soccer courts, playground, business center, and a dog park.
Located at 308 Woodcreek Drive, the transit-orientated property has direct access to downtown Chicago
