Standard, Belay Pay $61M for 256-Unit Lombard Apartments

Standard Real Estate Investments, together with Belay Investment Group, has purchased Martin’s Point, a 256-unit garden-style apartment community at 2101 South Finley Road in Lombard, for $61 million. The deal is described as the first acquisition in an expanded Midwest-focused joint venture.

The property spans 13 acres across 17 buildings and includes a clubhouse and maintenance facility, with unit mix of one- and two-bedrooms. Amenities include an outdoor pool, fitness center, grilling areas, and shared clubhouse space. The new owners plan upgrades to apartments and common areas, and Belay CEO Eliza Bailey called the deal an “ideal fit” based on location, occupancy, and accretive financing.

Financing referenced in property records includes a $43 million loan from Prudential. The acquisition equates to $238,281 per apartment.