JVM Realty Acquires 280-Unit Springs at Oswego from Continental Properties in Cushman & Wakefield-Brokered Deal
JVM Realty, the Oak Brook, Illinois-based multifamily investor and manager, has acquired Springs at Oswego, a 280-unit apartment community in Oswego, Illinois, from Continental Properties, a national developer and operator of multifamily, retail and hospitality properties. Cushman & Wakefield brokered the transaction, with Managing Director Brad Smith and Jack Maloney representing the seller.
The deal, announced Aug. 17, 2026, attracted more than 20 qualified offers, reflecting strong investor appetite for newer, low-density suburban multifamily product in the Chicago metropolitan area. Following the acquisition, JVM Realty rebranded the asset as Trillium at Oswego.
Property Overview
Located at 801 Fifth St. in Oswego, one of Chicago's fastest-growing western suburbs, Springs at Oswego was originally developed by Continental Properties and completed in 2019. Continental purchased the land in July 2018 and broke ground later that summer. The community comprises 14 two-story residential buildings spread across approximately 27.5 acres, offering a townhome-style layout with private ground-level entrances for each unit. The Oswego development represented the seventh partnership between Continental Properties and Horizon Construction.
The property offers studio, one-, two- and three-bedroom floorplans ranging from 623 to 1,430 square feet. Unit sizes average approximately 623 square feet for studios, 820 square feet for one-bedroom units, 1,134 square feet for two-bedroom units and 1,382 square feet for three-bedroom units. Amenities include private patios or balconies, a resort-style swimming pool, outdoor grilling areas, a fitness center, a clubhouse, attached and detached garage options, a pet play area and landscaped walking paths. The community provides access to approximately 107,000 jobs within a 15-minute drive and more than 2.2 million square feet of retail within five minutes.
Competitive Bidding and Resident Demographics
The transaction generated significant investor interest, with Cushman & Wakefield reporting more than 20 qualified offers submitted for the property. Smith cited the community's demographics, amenities and location as key drivers of that demand.
"Springs at Oswego is a best-in-class suburban community that generated exceptional investor interest, evidenced by more than 20 qualified offers," Smith said. "The property's strong demographics, on-site amenities, distinctive design and location within one of the Chicago region's fastest-growing corridors position it to benefit from sustained renter demand and long-term growth."
The resident base skews young and high-income, with an average household income exceeding $138,000 and 54% of households age 34 or younger. JVM Realty has highlighted the community's A-rated schools, high household incomes and favorable property taxes as key investment drivers, framing the acquisition as representative of the type of asset investors are targeting — a newer community in a high-demand submarket with limited new supply.
Seller's Perspective
Continental Properties' Finance Director Aaron Konop said the Oswego community played an important role in the company's growth across the Chicago metropolitan area.
"Springs at Oswego has played an important role in Continental Properties' growth across the Chicago metropolitan area and reflects our commitment to developing high-quality communities," Konop said. "We are proud of the community and resident experience our team established in Oswego, and we are confident JVM Realty's operational expertise will position it for continued success."
Market Context: Suburban Chicago Multifamily
The transaction reflects continued investor interest in suburban Chicago multifamily assets, particularly newer communities with strong demographic profiles and constrained new supply pipelines. Class A suburban multifamily cap rates in the Chicago area have been tracking in the low-to-mid 5% range in mid-2026, with well-located, newer vintage assets commanding tighter pricing. The sale price for Springs at Oswego was not disclosed.
Cushman & Wakefield's Midwest Multifamily Advisory Group has been active in the suburban Chicago investment sales market. In a separate transaction announced in June 2026, the firm brokered the $26.4 million sale of The Manors at Brookmere, a 108-unit community in Matteson, Illinois, which was financed with a $20.686 million Fannie Mae acquisition loan arranged through Greystone.
Cushman & Wakefield (NYSE: CWK) operates approximately 53,000 employees across more than 350 offices in nearly 60 countries and reported revenue of $10.3 billion in 2025 across its core service lines.
Sources: Cushman & Wakefield Press Release — Springs at Oswego Multifamily Sale