Acquisition of a 40,000-sf mixed use property in downtown Downers Grove, IL

December 2022

TLP-FIDES, LLC announces the acquisition of a 40,000 square foot mixed-use building in downtown Downers Grove, IL.  The 4-story building built in 1968, contains 27 apartments and 6,000 square feet of office space on the ground level.  The property has an A+ location within downtown Downers Grove and is just a few blocks of a Metra train station and offers numerous restaurants and shops at its doorstep as evidenced by a walk score of 93.   TLP-FIDES plans to improve unit interiors, common areas, the building facade, reduce operating expenses, and rebrand and remarket the property.   The purchase represents a true value add investment with a tremendous amount of upside.