Eastham Capital and Bender Companies Acquire 168-Unit Community in Glendale Heights, Illinois for $24.1M
Eastham Capital and Bender Companies have acquired The Flats at Gladstone, a 168-unit residential community in Glendale Heights, Illinois, for $24.1 million. This marks Eastham's second acquisition for its Fund VII and the twelfth joint project with Bender. The property is 96% occupied with average rents of $1,690 per month and will undergo $2.5 million in renovations, including exterior improvements and a new clubhouse.
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Eastham Capital, in partnership with Bender Companies, has acquired The Flats at Gladstone, a 168-unit residential community in Glendale Heights, Illinois, for $24.1 million, marking the second acquisition for Eastham's Fund VII. The property is currently 96% occupied with average rents of $1,690 per month.
Renovations are planned, including $2.5 million for exterior and interior upgrades, and a new clubhouse. Built in 1977, the community comprises 31 buildings with two-bedroom units ranging from 846 to 987 square feet. Located at Army Trail Road and Bloomingdale Road, residents have access to major retail and highways, enhancing connectivity to employment hubs in the Chicago region.
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