The Gables Apartments is an award winning premier, 368 unit, luxury apartment community. The property was awarded four different CAMME for best design by the Chicagoland Apartment Association and a “KEY” award for the best apartment community by the Greater Chicago Home Builders Association making the property one of the most highly awarded apartment properties in the Chicago metropolitan area.
The property is situated on a fully landscaped 30 acre site (4 acres to be donated to Park District) adjacent to the Virgil Gilman Nature Trail which runs through both Kane and Kendall County. The property is well located on the corners of Farnsworth Road and Rt. 34 just West of Route 59, Dupage County. The Property is situated in the fastest growing region of Chicago, and adjacent to the “High Tech Corridor”.
This location gives the property excellent access to employment, transportation, shopping and entertainment. The Gables consists of twenty-five, two and three story buildings and a large clubhouse with pool and spa. The clubhouse is built around a courtyard with open space between and adjacent to the buildings. There are 167 detached garages built around the perimeter of the complex.
A concrete walkway links all buildings to the outdoor common areas and the clubhouse. The apartments feature private entries (no common interior corridors) nine foot or vaulted ceilings, large walk-in closets, six panel doors, crown molding, maple cabinets, full size washer and dryers, large roman bathtubs, fireplaces and WI FI high speed internet access.
The apartment’s utilities, gas, electric and water are separately metered and the responsibility of the tenants. The apartments are large town home style units with a mixture of 7 different layouts comprised of one, two and three bedroom units ranging in size between 806 to 1,671 square feet. The complex was built in two consecutive phases from 2000-2004.
Mr. Landreth started the project by purchasing raw farm land in 1996 and through an annexation agreement with the city of Aurora obtained the rights to build the Apartments. He is 71% owner in the property. Mr. Landreth’s construction company, Northpoint construction Corp. constructed the property, and his management company Gables Management LLC manages the property.
The property is currently being sold to American Realty Advisors, a 2.5. billion dollar, California pension advisor for $50,500,000.
