Haven Hoffman: $77.25M sale and $54.809M loan secured for residential community near Chicago

CHICAGO, Mar. 7. 2025 –  JLL Capital Markets announced today that it has arranged the $77.25 million sale and $54.809 million agency lending for Haven Hoffman, a 550-home garden-style community located in Hoffman Estates, Illinois, a sought-after northwest suburb of Chicago.

JLL represented the sellers, Tricap Residential Group and Wolcott Group. JLL also worked on behalf of the buyer and borrower, Bender Companies, to secure the five-year, fixed-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo Lender.

Haven Hoffman Estates, situated at 725 W Bode Cir., offers immediate access to I-90 and I-290 and is approximately 30 miles from Downtown Chicago. The community is surrounded by well-planned shopping opportunities, employment hubs and entertainment options for residents. It is also a 20 minute drive from Chicago O’Hare International Airport.

Haven Hoffman Estates, built in 1970, offers a variety of living spaces with unit sizes averaging 746 square feet and options for studios, one- and two-bedroom layouts. The community boasts a mix of classic and renovated unit interiors, with renovated units featuring modern granite countertops, stainless-steel appliances and walk-in closets. Residents enjoy a host of community amenities such as a swimming pool, fitness center, modern clubhouse, private work-from-home suites and picnic areas with grilling stations.

The property has benefited from substantial improvements, including $3.27 million in unit renovations and nearly $1.2 million enhancing community amenities. With a proven value-add program, Haven Hoffman presented substantial investment potential in a high-demand submarket with limited supply.

Hoffman Estates, a sought-after suburb of Chicago, is known for its excellent quality of life, is part of a robust employment corridor near major corporations and medical facilities, making it a prime location for families and young professionals.

JLL Capital Market’s Investment and Sales Advisory team was led by Managing Directors Kevin Girard, Mark Stern and David Gaines, Director Zach Kaufman and Analysts Betsy Romenesko and Sam Grohe. JLL Capital Market’s Debt Advisory team was spearheaded by Managing Director Trent Niederberger, Director Medina Spiodic and Associate Rebecca Brielmaier.

"The successful transaction of Haven Hoffman Estates highlights the ongoing demand for well-located suburban housing in the Chicago area," said Stern. "With its strategic location and comprehensive amenities, Haven Hoffman offers exceptional long-term growth opportunities."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Tricap is a real estate execution firm that excels in identifying opportunities, developing strategic visions and driving deal execution. By blending great people with disciplined processes, Tricap focuses on hiring the best talent, acquiring quality properties, and serving residents effectively, consistently striving for improvement through new technologies and adapting to market changes. This commitment is reflected in Tricap's core values and dedication to resident and investor satisfaction.

Wolcott Group, founded in 1998, is a real estate private equity investment company that has built a robust portfolio of $300 million in managed assets over more than two decades. The firm specializes in identifying and optimizing the underlying value in real estate assets, employing a disciplined, value-oriented approach to investing, ownership and operations. With a proven track record of success and a strong focus on capital preservation, Wolcott Group has consistently delivered outstanding risk-adjusted returns for its investors, emphasizing partnership and alignment of interests between its principals and stakeholders.

Bender Companies is a real estate investment firm specializing in multifamily properties, offering comprehensive investment and management solutions by sourcing deals, structuring debt and equity and managing properties throughout the investment term. Founded in 2011, Bender Companies has developed a strong track record of high-performing investments through strategic acquisitions and risk management and aims to expand through strategic partnerships, investors and joint ventures.