"M&R was looking in this area, and this site had some challenges, sloping down considerably, but it had high visibility off Interstate 355 at Butterfield Road," Keith Dafcik, SVP with McShane, tells GlobeSt.com. "I don't know if there's a lot of this kind of product in the area. It's in a pretty centralized area near downtown Downers Grove, Oak Brook and Yorktown shopping, so the demographics were good."

Dafcik says it's to M&R's credit that this project moved forward in the face of economic turmoil, when so many other developments faltered. "We started when the market was still in decent condition before the economic downturn really hit, but the housing markets had already tightened up," Dafcik says. "M&R Development had the wherewithal to complete the project."

Rental rates range from $899 to $2175 at the development, which is currently about 40% occupied. The project offers 480-square-foot studios, 790-square-foot one-bedrooms, 1,200-square-foot two-bedrooms and 1,735-square-foot row homes, all of which offer contemporary finishes and appliances, an in-unit washer and dryer, outside patio or balcony and indoor parking. The three buildings surround a central courtyard with a reflecting pool and outdoor fireplace, and tenants also have access to a 4,100-square-foot clubhouse, including a reception area, business center, kitchen, fitness center and outdoor swimming pool.