A Chicago-based investor has shelled out $91 million for The Villages at Canterfield, a 352-unit apartment community in West Dundee, marking one of the largest suburban multifamily trades reported so far this year. The blockbuster price tag highlights steady institutional appetite for large, value-add rental properties in northwest Chicagoland’s suburbs.
As reported by CoStar, the sale was recorded on May 11, with VennPoint Real Estate LLC and Ansonia Properties LLC listed among the companies tied to the transaction. CoStar characterized the figure as one of the highest-priced suburban apartment deals to hit the Chicago-area market in 2026.
Property details
Offering materials peg the address at 50 Canterfield Pkwy W and show the community totals 352 units, built in 2001, with an average unit size of about 1,220 square feet. JLL’s marketing packet cites roughly 429,673 square feet of building area and about 798 parking spaces, and it pitched the complex as a classic value-add play with room for interior upgrades and rent growth, according to JLL.
Buyer profile
VennPoint is a Chicago-headquartered multifamily investor that has been active across the Midwest in recent years. The firm’s website highlights a portfolio heavy on suburban and regional holdings and recent acquisition activity. The company says it focuses on disciplined underwriting and hands-on asset management while targeting value-add opportunities in what it describes as high-conviction suburban markets, per VennPoint Real Estate.
History and market context
County records show The Villages at Canterfield last traded in November 2021 for about $87 million, according to public documentation from Kane County. Per CoStar, the new $91 million sale again puts the property among the top suburban apartment transactions reported this year, underscoring how pricing for well-located suburban communities has evolved across recent cycles.
JLL brought the asset to market earlier this spring as a sizable suburban offering with upside tied to continued interior renovations. Any new owner is widely expected to keep pushing those upgrades to support higher rents and stronger operating performance. Local officials and property managers had not issued public statements connected to the May 11 sale at the time of reporting, and brokers did not immediately respond to requests for comment.
