Chicago Construction News staff writer
Eastham Capital, a private equity real estate firm, has announced the acquisition of Haven Hoffman Estates, a 550-unit apartment community in the Chicago suburb of Hoffman Estates. The property will be rebranded as Hoffman Hills Apartments as part of a planned upgrade program.
The acquisition was made through Eastham Capital Fund VI, LP, with South Florida-based Eastham Capital securing majority ownership. Bender Companies, a long-time partner of Eastham Capital, will handle property management and has co-invested in the project.
A $6.5 million renovation plan for the 11 three-story building development will include upgrades to apartment interiors, building exteriors, and community amenities, alongside the rebranding initiative. Average rents at the property are just over $1,349 per month.
Built in 1970, the complex spans 33 acres and includes on-site amenities such as a fitness center, swimming pool, clubhouse, private work-from-home suites, and outdoor grilling areas. The property is located at 725 W Bode Circle, near Schaumburg, within Chicago’s Golden Corridor, a major employment hub.
This acquisition marks the ninth collaboration between Eastham Capital and Bender Companies. “We are excited to expand our Chicago portfolio with Hoffman Hills Apartments,” said Matthew Rosenthal, founder and managing partner of Eastham Capital. “Bender consistently outperforms its projections, and we are thrilled to partner with them again.”
The property is situated approximately 30 miles northwest of downtown Chicago and less than 15 miles from O’Hare International Airport, offering residents access to top-rated school districts and major suburban employers.
