Oak Brook, Ill. – Inland Real Estate Investment Corporation (“Inland Investments”), an industry-leading real estate investment manager with over $16 billion in assets under management, announced the completion of more than $120 million in capital raised for the private investment offering, Wheaton Multifamily DST (“the DST”), a Delaware statutory trust sponsored by Inland Private Capital Corporation. The offering has been fully subscribed by investors and is now closed.
The DST owns Wheaton 121 Apartments (“Wheaton 121”), a premier Class-A multifamily community located at 121 North Cross Street in Wheaton, Illinois, an affluent suburb located 25 miles west of downtown Chicago. The property consists of a seven-story building providing 306 apartment homes, comprised of five studio, 217 one-, 80 two- and four three-bedroom layouts. Each home features upscale amenities, including gourmet kitchens, stainless steel appliances, wood flooring, nine-foot ceilings, spacious walk-in closets, in-unit washer and dryer, and a private outdoor terrace or balcony.
Residents of Wheaton 121 also have access to luxury community amenities including a heated resort-style swimming pool with cabanas, personal EV charging stations, heated garage parking, a 24-hour fitness center and yoga studio, outdoor grilling stations with a fire pit and lounge, a billiards room and poker table, a theater room, a community room with a chef’s kitchen, a car wash and tire fill station, secure bike storage, a gated dog park, and a pet washing station.
“The multifamily sector is continuing to expand, with demand steadily recovering in the face of recent economic challenges, including high interest rates, limited home supply, and affordability issues,” said Matthew Fries, chief executive officer and president of Inland Investments. “Many individuals are turning to high-quality rental options with community-driven, luxury amenities in desirable locations. These shifting demographic trends and preferences continue to drive strong demand and sustainable growth in the multifamily market.”
The property’s prime location boasts a walkable downtown with boutique shops, cafes, and local restaurants. Residents also benefit from proximity to the Wheaton Union Pacific West Metra Station across the street and convenient access to major thoroughfares including I-88 and I-355.
The suburb of Wheaton combines modern living with historic charm and has been highly ranked for its education and recreational spaces. The Wheaton School District 200 is ranked #19 out of the 415 best Illinois school districts1, and Wheaton College is ranked amongst other colleges as the “Best Colleges in America 2024” and #1 among Christian colleges and universities2. The Wheaton Park District also has received four gold medals for excellence from National Recreation and Park Association for its management of 800 park acres3.
Named a Top Workplace by the Chicago Tribune for the past five years, Inland Investments specializes in offering public and private tax-advantaged, growth and income real estate solutions spanning virtually every sector of the commercial real estate market. Inland member companies have facilitated more than $56 billion in acquisitions since inception and currently manage a diverse real estate portfolio of approximately $16 billion across 42 states.
About Inland Real Estate Investment Corporation
Inland Real Estate Investment Corporation (“Inland Investments”), headquartered in Oak Brook, IL, is an industry-leading real estate investment manager and a member company of The Inland Real Estate Group of Companies, Inc. (“Inland”), one of the nation’s largest commercial real estate and finance groups. Named a Top Workplace by the Chicago Tribune for the past five years, Inland Investments specializes in offering public and private tax-advantaged, growth and income real estate solutions spanning virtually every sector of the commercial real estate market. Since 1968, Inland has engaged in the diverse facets of real estate, including property management, leasing, marketing, acquisition, real estate brokerage, development, redevelopment, construction, real estate financing and other related services, including a dedicated research team. Inland member companies have facilitated more than $56 billion in acquisitions since inception and currently manage a diverse real estate portfolio of approximately $16 billion across 42 states. Past performance is not a guarantee of future results.
1 niche.com
2 Wheaton College website.
3 Vivint Blog. Best Places to Live in Illinois. Wheaton.
