One Nineteen on Main, a 49-unit apartment building in downtown Naperville, sold recently for $23.3 million.
Seller Origin Investments and joint venture partner Randolph Street Realty Capital said they sold the building, which includes retail space on the ground-floor level, to an unidentified private investor.
The building was acquired in 2012, when the residential units were master leased to nearby North Central College at below market rents through 2017. When the master leases expired in 2017, Origin Investments and Randolph Street Realty Capital said they invested more than $2.6 million to refurbish all 49 units, overhaul the property’s common areas, and create 1,390 square feet of rentable ground-floor retail space, which was leased to Lush Cosmetics.
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