Marquette Management assumes property management of 236-unit community
Marquette Companies, a national leader in multifamily development and property management, today announced its acquisition of Forest Pointe, a 236-unit apartment community in Lake Bluff in Chicago’s North Shore. In tandem with the acquisition, Marquette Management will serve as property manager for the community located at 29533 N. Waukegan Road.
“Forest Pointe is an excellent example of the value-add potential that exists in the Chicago suburbs, especially in markets like Lake Bluff where strong fundamentals and high demand meet a shortage of supply,” said Trevor Ryan, president of Marquette Companies. “Marquette stands out for its success with value-add opportunities, which has been an area of emphasis for us through our recently launched co-investment sponsor equity fund, Marquette SE Fund 25.”
Located less than an hour from downtown Chicago, Lake Bluff is home to eight Fortune 500 companies, most notably Abbott Laboratories, whose global headquarters is right across the street from Forest Pointe. Downtown Lake Bluff, including the Metra commuter rail station, and Naval Station Great Lakes, the Navy’s largest training station, are less than 10 minutes away. Proximity to I-94 provides easy access to numerous nearby suburban employment nodes in both Illinois and Wisconsin.
Forest Pointe’s one- and two-bedroom apartments are situated in seven three-story buildings with a clubhouse and leasing center at the hub of the community. Marquette will undertake renovations to unit interiors to update finishes and appliances throughout, and the amenity offerings will be enhanced with a new grilling area, seating area with a fire pit and pergola, dog park and updates to the fitness center. All units feature ample storage and private outdoor space.
“Lake Bluff is an exceptional location that provides access to not only a number of the region’s biggest employers, but also Chicagoland’s famed Lake Michigan shoreline, offering a live-work-play environment that has made it one of the area’s most attractive suburbs,” said Jim Cunningham, president of Marquette Management. “Our plans for Forest Pointe will create the kind of place that appeals to renters in the area looking for thoughtfully designed apartments with upscale finishes, amenities that align with their lifestyles and services that build community.”
Forest Pointe is joining the portfolio of more than 14,000 apartments managed by Marquette Management. Regularly recognized for its award-winning community-building service, Marquette Management handles a range of properties in markets in Florida, Illinois, Indiana, Michigan, Minnesota, Ohio, Tennessee and Texas.
About Marquette Companies:
Based in Naperville, Ill., Marquette Companies is a multifamily development company and investment leader with a 43-year track record of success in markets across the country. The firm’s vertically integrated approach, with in-house capabilities in acquisition, construction, asset, property and construction management, enables its team to control all aspects of investments and has positioned the firm as a leading player in the multifamily investment space. Marquette’s vision is to be the top choice for living, working and investing by delivering exceptional living spaces and unparalleled customer service. The firm received 2024 Multi-Housing News Excellence Awards for Development Company of the Year (Gold honors) and Property Management Company of the Year (Silver honors), as well as a Top Employers Award from the National Apartment Association and ranked #2 among the Nation’s Top Operators Overall in Opiniion’s prestigious 2023 Resident ChoiceAwards. For more information, visit www.marquettecompanies.com.
About Marquette Management:
Based in Naperville, Ill., Marquette Management is a leading property management company with a portfolio of more than 14,000 apartment homes in Florida, Illinois, Indiana, Ohio, Michigan, Minnesota, Tennessee and Texas, encompassing a range of communities from urban high-rise buildings to suburban townhome developments. Marquette Management is part of Marquette Companies, a multifamily development and investment company with a 43-year track record of success in delivering exceptional living spaces and unparalleled customer service. For more information, visit www.marquettemanagement.com.
Marquette Companies recently acquired Forest Pointe, a 236-unit garden-style rental community in Lake Bluff, Ill., a northern Chicago suburb.