Ansonia Properties Buys Villages at Canterfield

Activity in Chicago’s suburban multifamily market is showing no signs of slowing down with the closing of a nearly $100 million recorded sale last week.

Chicago-based Ansonia Properties bought the 352-unit Villages at Canterfield in West Dundee for $91 million, Kane County records show. The purchase comes out to about $258,500 per unit.

Ansonia took out a $64 million mortgage from Berkadia to finance the transaction, according to public records.

The sellers, a joint venture of Chicago-based companies VennPoint and Matador Capital Management, initially bought the complex at 1900 Canterfield Parkway in 2021 for $87 million. The venture took out a $68 million mortgage from Argentic to fund the transaction.

The property includes one-bedroom to three-bedroom layouts averaging 1,220 square feet, according to Ansonia’s website.

Chicago’s suburban multifamily market got off to a strong start in 2026 and the hot streak doesn’t appear to be cooling down.

In January just over 1,400 units traded in one week, including Osso Capital’s $110 million sale of the 730-unit Woodland of Crest Hill Apartments in Crest Hill to Bayshore Capital Partners.

Demand for multifamily is so far outpacing supply both in the city and the suburbs, rent growth trends show. And breaking ground on new projects comes with both political and logistical obstacles.

Still, developers are finding opportunities to build where they can. Last month, Optima Real Estate scored a $60 million refinancing on a multifamily project in Chicago’s supply-constrained North Shore suburbs.

The Glencoe, Illinois-based firm scored the loan to replace a $58 million construction mortgage issued in 2021 by Arlington Heights-based Village Bank & Trust, which was used to develop Optima Verdana, a 100-unit mixed-use apartment development with 5,900 square feet of retail space at 1210 Central Avenue in Wilmette.

Optima Verdana was completed in 2023 and is the first stage of a multi-phase development. The developers received approval from Wilmette in 2024 to begin phase two of the project, which will consist of a 128-unit apartment building known as Optima Lumina, adjacent to Optima Verdana.