Real Estate
Crews Break Ground On Multimillion Dollar, 306-Home Development In Naperville
The multi-use development will include a 15,000 square foot retail space.
NAPERVILLE, IL — Crews broke ground recently on a multimillion dollar development that will have 306 housing units, and 15,000 square feet of space for retail businesses. The five-story development will be located at 1200 Diehl Rd., the former home of DeVry University.
According to Hines, the real estate firm behind the project, the residential portion of the complex will feature studios and one-, two- and three-bedroom living homes. A pool, a fitness center and a club room with a fireplace are among the amenities planned for residents.
In 2023, DeVry moved its main campus to Lisle, freeing up the site. The city issued construction permits for the development in September 2025.
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The project comes with a price tag of $66 million, according to Multi-Housing News. Part of the construction costs will be funded by Hines U.S. Direct Investments (HUSDI). Per the Hines website, HUSDI "connects financial professionals and their high-net-worth clients with one-off development opportunities."
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