Boutique Arlington Heights apartment complex sells for $25M

CHICAGO, Nov. 3, 2026 - JLL Capital Markets announced today that it has arranged the $25 million sale of FourNorth Apartments, a 76-unit boutique apartment community in Arlington Heights, Illinois.

JLL worked exclusively on behalf of the seller, Benchmark Developers, in the sale of the property to a private investor.

Completed in 2024, FourNorth Apartments offers studio, one- and two-bedroom units averaging 796 square feet each. All of the units feature modern luxury finishes with open floor plans, private balconies, in-unit laundry and stainless-steel appliances. FourNorth also offers its residents a variety of amenities, including a state-of-the-art fitness center, resident lounge area, entertainment space, rooftop terrace and an on-site management office. The five-story, pet-friendly building is 95% occupied.

FourNorth Apartments is located at 4 North Hickory Road within walking distance of the shops, restaurants and entertainment options in Downtown Arlington Heights. The property is also walkable to the Metra Union Pacific Northwest providing access to Downtown Chicago about 25 miles southeast and is proximate to multiple nearby Fortune 500 employers, including AT&T, United Airlines and Zurich North America. Arlington Heights' high quality of life, strong economy and highly ranked schools attract well-educated professionals and affluent families providing steady renter demand.

JLL's Capital Markets Investment Sales and Advisory team representing the seller was led by Bill Baumann, David Gaines and Sam Grohe.

"FourNorth Apartments attracted a significant amount of investor interest due the core quality of the asset itself, as well as its unbeatable suburban location in Arlington Heights, an affluent northwest suburb of Chicago that also boasts fantastic market fundamentals with just one other property built within the last five years," said Baumann.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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