Brookfield, Wis. (December 21, 2023) – MLG Capital – a national leader in diversified private real estate investments – today announced its acquisition of the Meadows at River Run multifamily property, located at 350 Whitewater Drive in Bolingbrook, IL. The apartment property was built in 2001 and features 374 apartment units, high-quality amenities and a suburban location with well-rated school districts and a robust labor market.
“We are excited about the acquisition of Meadows at River Run,” said Daniel Price, Senior Vice President at MLG Capital. “We think this is a great property that is very well positioned in the marketplace. Meadows at River Run marks our 18th and final acquisition of 2023, a year in which MLG Capital has remained very active despite overall transaction activity being down significantly.”
Meadows at River Run is on a major thoroughfare that provides convenient freeway access and great drive-by visibility. Both to the East and West are strong retail corridors, and the surrounding area has numerous employers and community amenities. The property itself features large, functional units, all with patios/balconies. Select units have stainless appliances, vaulted ceilings and/or attached garages. There is also a resort-style swimming pool, fitness center, clubhouse, dog park and walking trail onsite.
MLG Capital has been acquiring assets since 1987. Since 2012, the firm has operated under a fund strategy, diversifying investors across portfolios of assets, rather than individual deals. MLG’s acquisitions focus on geographic, asset class and asset type diversification.
Meadows at River Run is the firm’s 4th acquisition in the greater Chicago market and brings MLG’s total number of units owned in Illinois to 1,056.
