FCA is to purchase two apartment properties in the suburbs of Chicago
WHEATON, Ill., (October 30, 2014) – First Capital Advisors, LLC (FCA) announced today that the company is under contract to purchase Clarendon Arms Apartments in Clarendon Hills, Ill., and Mobile Ave Apartments in Oak Lawn, Ill.
“FCA’s goal has been to expand into the local Chicago market in order to form our residential property management company,” said Chris Pope, Principal of First Capital Advisors.
Clarendon Arms Apartments is an 84 unit garden-style apartment complex located in Clarendon Hills, Ill., approximately 20 miles away from downtown Chicago. This property is located in the highly sought after Hinsdale School District and offers on-site management, maintenance, laundry facilities, heated outdoor swimming pool, and on site storage lockers.
Mobile Ave Apartments is a 24 unit complex located approximately 18 miles away from Chicago and is surrounded by retail shops, a grocery store, and a large community park.
The current property management team that is in place for these properties will now be brought on as FCA employees, doubling the size of the firm.
First Capital Advisors, LLC is a fully integrated, self-administered and self-managed real estate investment firm focusing on the acquisition, ownership, and management of high quality real estate throughout the United States. First Capital is an affiliate of First Trust Portfolios L.P., a financial services firm founded in 1991. Additional information about First Capital Advisors can be found at the company’s website at fca-grp.com.