Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Fox Run Apartments, a 220-unit apartment complex in St. Charles, Illinois.
“Built in 1971, Fox Run benefits from an extensive renovation program that began in 2008,” said Ryan Engle, senior managing director investments in Marcus & Millichap’s Chicago Oak Brook office. “The acquisition provides the buyer with a well-maintained asset poised to take advantage of favorable metro Chicago multifamily market conditions such as a limited supply of new product, and a vacancy rate that is expected to reach its lowest level since 2020.” Engle, Andrean Angelov, and Zack Mahoney represented the seller and procured the buyer.
St. Charles is located along the Fox River in Kane County, approximately 40 miles west of the Downtown Chicago Loop. Surrounded by schools and parks, Fox Run Apartments is close to retail and dining options. The Geneva Commons shopping center is a mile away while the nearby Geneva Metro station provides convenient transportation.
The property has a swimming pool, 342 parking spaces and four laundry facilities. Renovations include new kitchens, bathrooms, and flooring in 95 percent of the units, new hallways, windows, ceiling fans, and clubhouse upgrades.
