Banner Real Estate Group Unveils New Multifamily Development in Wheaton, IL
Banner Real Estate Group Launches The Faywell in Wheaton, IL
The Banner Real Estate Group has officially broken ground on its latest project, The Faywell, located at 220 W. Liberty Drive in downtown Wheaton, Illinois. This landmark development, which is strategically situated adjacent to the Metra Union Pacific West station, is on track to reshape urban residential living in the area.
With plans to feature 334 Class A multifamily units, The Faywell aims to provide high-quality living spaces designed with modern residents in mind. The community will be accentuated by luxurious amenities including a resort-style swimming pool, a state-of-the-art fitness center, and a coworking lounge, catering to the lifestyle needs of its tenants. Notably, the development will offer ample bike parking and direct access to the DuPage County Prairie Path, a well-known recreational trail providing an opportunity for outdoor activities and leisurely walks.
One significant aspect of The Faywell's appeal is its ground-floor retail space. This area will host the Egg Harbor Café, a beloved local eatery making its return to Wheaton. The café's reopening underscores the project's commitment to fostering community connections and supporting local businesses.
Bob Flannery, the CEO of Banner Real Estate Group, expressed his enthusiasm for the project, stating, “We’re excited to bring The Faywell to life as a best-in-class residential option in a location with so much vibrancy, charm, and walkability, as well as the convenience of the Metra commuter station.” He emphasized that this development is not merely an investment in construction but also a commitment to enhancing the quality of life for residents and visitors in downtown Wheaton.
The project has been in development for nearly five years, marking a major milestone for both Banner Real Estate Group and the City of Wheaton. Flannery further acknowledged the collaboration and support received from local government officials, particularly City Manager Michael Dzugan and Mayor Phil Suess, whose efforts have contributed to the successful progression of the project.
As of now, construction is actively underway, and first move-ins are anticipated for Fall 2026. As the construction of The Faywell progresses, it is expected to transform the landscape of downtown Wheaton and catalyze further development in this vibrant community.
Banner Real Estate Group, established in 1989 and headquartered in Chicago, is recognized for its expertise in developing multifamily properties as well as managing self-storage and industrial projects across the United States. The firm's dedication to capital preservation, value creation, and wealth generation has solidified its reputation as a reliable partner for high-net-worth investors and institutional clients alike.
In conclusion, The Faywell symbolizes a significant step forward in Wheaton's urban development, promising to enrich the local community, support economic growth, and increase the availability of modern living spaces in an ever-evolving city landscape. As this project takes shape, residents and stakeholders eagerly await the opportunities it will bring, reinforcing the strength and charm of downtown Wheaton.