Foxford Communities Acquires Century Station Mixed-Use Building in Berwyn, Includes 52 Residential Units

Hinsdale,Ill.-based Foxford Communities announced today that it has completed the acquisition of a 52-unit mixed-use building in Berwyn, Ill. Foxford plans to make improvements to the exterior of the property and update its common areas over the next few months.

Located in the downtown, transit-oriented Depot District of Berwyn, at the northwest corner of Stanley and Oak Park avenues, Century Station was originally built in 2008 as a five-story condominium complex with 10,000 square feet of ground-floor commercial space.

“This was one of the few remaining properties of its kind and we feel fortunate to have acquired it,” said Peter Brennan, president of Foxford Communities. “As more people gravitate toward transit-oriented communities, Century Station represents a perfect opportunity for those who rely more heavily on public transportation. The building is adjacent to the Berwyn Metra station, making it convenient for residents commuting to the city for work. Century Station is also within walking distance to a variety of shops, restaurants and parks.”

Century Station’s brick and limestone exterior reflects the materials used in Berwyn’s significant collection of Chicago-style bungalow homes. The building’s one-, two- and three-bedroom apartments that were once designed as condominiums feature high-end finishes including custom cabinets, granite countertops, stainless steel appliances, in-unit washer and dryer and spacious balconies. The building also includes underground parking and a bicycle storage room.

While the apartments are currently 100 percent leased, the commercial portion of the building is only one-third leased. Foxford plans to hire a new brokerage representative and, given Century Station’s location, anticipates filling the 6,000 square feet of remaining ground-floor space quickly.

“Century Station is a prime location for commercial space with high visibility and strong foot traffic,” said Brennan. “Right in the heart of Berwyn’s popular Depot District and across the street from MacNeal Hospital, the building is ideal for merchants looking to set up shop in the heart of this thriving town. Plus, commercial tenants can have built-in customers with the Century Station residents.”

Known as “Beautiful Berwyn” with its tree-lined streets and a distinct architectural style, Berwyn is home to a diverse and growing community. In recent years, Berwyn’s Depot District has become home to a growing population of local artists, musicians and young professionals who are drawn to the town’s unique food and beverage establishments, the 16th Street Theater, Wire - a facility for music production and performances, and the community’s two thriving park districts.

Designed as an active transportation hub, Berwyn is situated along the Metra BNSF Railway corridor and conveniently located within one mile of two major highways: the Eisenhower Expressway (I-290) and the Stevenson Expressway (I-55). Additionally, O’Hare International Airport and Midway International Airport are both a short drive away.

Century Station marks the third multifamily development Foxford has acquired over the past two years. In the fall of 2012, Foxford acquired 70 of the 118 condominiums at Medinah on the Lake, a luxury condominium conversion in Bloomingdale, Ill.. Since sales began at Medinah on the Lake this spring, Foxford has sold 70 percent of the homes in the community.

Foxford also purchased Clocktower Pointe, a 108-unit luxury condominium development in Countryside, Ill. Close to completing the second of six planned buildings at the community, Foxford is currently offering pre-construction pricing for the soon-to-be-completed homes.

About Foxford Communities:

Foxford Communities, a Hinsdale, Ill.-based real estate firm, is one of the most active developers of luxury condominiums and single-family homes in the Chicago area with projects in Lake Bluff, Bannockburn, Lake Zurich, Hawthorn Woods, Bloomingdale, Berwyn and Countryside.