Peakline Real Estate Funds, in partnership with Lincoln Property Company, has finalized plans for The Claire, a new 90-unit build-to-rent townhome community in Naperville, Illinois. This project represents the first development of its kind in the highly-rated suburban city, aiming to address the growing demand for single-family style rental housing.
Construction on the luxury townhome project is scheduled to begin in the fourth quarter of 2025. The development is a strategic move by Peakline to enter a market known for its strong demographics, top-tier schools, and limited housing supply.
Key Takeaways
- First in Naperville: The Claire will be the city's first purpose-built rental townhome community.
- Project Scope: The development includes 90 luxury two- and three-story townhomes, each with a two-car garage.
- Key Players: The project is a joint venture between Peakline Real Estate Funds and Lincoln Property Company.
- Timeline: Construction is set for Q4 2025, with the first units available for residents in Q2 2026.
New Housing Model Arrives in Naperville
A new residential development named The Claire is set to introduce the build-to-rent housing model to Naperville. The project, led by private real estate investment firm Peakline Real Estate Funds (PREF), will create 90 new rental homes designed for families and professionals seeking the benefits of a single-family home without the commitment of ownership.
The development is a collaboration with Lincoln Property Company, a global real estate firm. This project marks the second major investment from PREF's Build To Rent Fund I, which focuses on developing rental communities in areas with high demand and significant barriers to new construction.
What is Build-to-Rent?
Build-to-rent (BTR) communities consist of single-family homes or townhomes built specifically for long-term rental, rather than for sale. This model often provides professional management, shared amenities, and a community atmosphere similar to traditional apartment complexes, but with the space and privacy of individual homes.
Strategic Location and Market Demand
The selection of Naperville for this project was a calculated decision based on the city's strong market fundamentals. Naperville is frequently cited as one of the best places to live in the United States, which drives consistent housing demand.
Developers pointed to the city's highly-ranked school system, robust local economy, and limited existing rental supply as key factors. The Claire's location offers convenient access to downtown Naperville and major transportation routes, making it an attractive option for commuters to the broader Chicago metropolitan area.
"Delivering The Claire, the first build-to-rent community in one of the nation's most desirable suburbs, showcases Peakline's strategy of delivering thoughtfully designed differentiated rental housing in high-barrier, supply-constrained markets," said Jason Ross, Managing Director of Investments at Peakline Real Estate Funds.
Ross added that the project aims to expand access to quality housing while providing "durable, long-term value" for the firm's investors.
Peakline's Investment Portfolio
Peakline Real Estate Funds currently has over $1.7 billion in equity invested across its portfolio. The total gross value of its assets, which span rental housing, industrial, office, and retail properties, is approximately $5 billion.
Project Details and Community Features
The Claire will consist of 90 townhomes, offering a mix of two- and three-story floor plans. Each unit is designed with modern living in mind and will include several high-end features.
Key Unit Amenities
- A private, two-car attached garage for every townhome.
- Modern, top-of-the-market interior finishes and appliances.
- Access to a comprehensive package of community amenities.
The development is intended to provide a premium rental experience that competes with the quality of for-sale homes in the area. The day-to-day operations and resident services for The Claire will be handled by RPM Living, a professional property management company.
Developer Perspectives on the Project
Leaders from both Peakline and Lincoln Property Company emphasized the project's role in meeting the changing needs of modern renters. The build-to-rent model is seen as a solution for households that desire more space, privacy, and a neighborhood feel than typical apartments can offer.
"Naperville continues to attract residents seeking high-quality and well-designed rental housing," stated Peter Kelly, Executive Vice President at Lincoln Property Company. "This development exemplifies our commitment to delivering thoughtfully crafted, long-term multifamily solutions that meet the evolving needs of today's households while creating value for our investment partners."
The partnership combines Peakline's investment strategy with Lincoln's extensive development experience. Lincoln Property Company manages a portfolio of over 680 million square feet of commercial space and has a significant presence across the United States and Europe.
With construction starting soon, the project is on track to welcome its first residents by the middle of 2026, adding a new and distinct housing option to the Naperville real estate market.
