Renaissance at Carol Stream trades hands in Hot DuPage County

CHICAGO, Oct. 23, 2025 – JLL Capital Markets announced today that it has closed the sale of Renaissance at Carol Stream, a 293-unit apartment community located in Carol Stream, a western suburb of Chicago in DuPage County.

JLL represented the seller and Chicago-based owner-operator, Bender Companies. The buyer was Highlands Vista Group.

Built in 1970, Renaissance at Carol Stream offers spacious floor plans with modern amenities including a resort-style pool & sundeck, full-size indoor basketball court and fully equipped fitness center. The property features 17 buildings across 16.68 acres with a diverse unit mix of one- and two-bedroom apartments averaging 883 square feet. Current ownership has successfully renovated 129 units achieving strong rent premiums, with 56% of the property offering additional value-add upside through a programmatic renovation program.

Located at 201 Flame Dr., the property enjoys an ideal DuPage County location with direct access to the I-88 job corridor and top employers. The community is served by Community Unit School District #200, ranked in the top 5% nationally and sits just 27 miles west of downtown Chicago with convenient access to O'Hare International Airport. The area features robust demographics with an average household income of $145,000 within three miles and benefits from exceptional nearby amenities including the Morton Arboretum, Cosley Zoo and extensive retail along North Ave.

DuPage County ranks as the #1 best county to live in Illinois with an AAA county bond rating, placing it in the top 2% of municipalities. The county spans many Chicago suburbs and serves as a leading suburban market with a diverse business community including high-technology research centers, corporate headquarters and facilities for well-known national and international companies.

JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Managing Directors Kevin Girard and Mark Stern and Director Zach Kaufman.

"Renaissance at Carol Stream represented an exceptional value-add opportunity in one of suburban Chicago's most desirable markets," said Girard. "The property's strong fundamentals combined with DuPage County's supply-constrained environment and robust employment base made this an attractive asset for investors seeking growth potential in the Chicago metro area."

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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Based in Chicago, IL, Bender Companies is an owner-operator specializing in the acquisition and management of value-add multifamily assets. Since its inception in 2011, Bender Companies has established a proven track record of high-performing investments through strategic acquisitions, mitigating risk, and effective management.

Highlands Vista Group seeks to create a best-in-class environment where residents, employees and investors grow together over the long-term.