Mount Prospect Apartments for Sale: Exploring Real Estate Opportunities with Doug DiBasilio

Mount Prospect, Illinois, a vibrant northwest suburb of Chicago, has become a sought-after destination for homebuyers and investors alike. Known for its charming downtown, excellent schools, and proximity to major highways and public transit, Mount Prospect offers a blend of suburban tranquility and urban accessibility. Among the various real estate options in the area, apartments and condominiums stand out for their affordability, modern amenities, and investment potential. While the name Doug DiBasilio does not directly appear in association with specific real estate companies in Mount Prospect based on available information, this article explores the broader landscape of apartments for sale in Mount Prospect, key developments, and the role of real estate professionals in navigating this dynamic market. We’ll also hypothesize how an individual like Doug DiBasilio could fit into this scene as a potential real estate agent, developer, or broker, while grounding the discussion in the latest market trends and opportunities.

The Appeal of Mount Prospect’s Real Estate Market

Mount Prospect’s real estate market has seen significant growth in recent years, driven by its strategic location and ongoing downtown revitalization. With a population of approximately 56,000, the village combines a small-town feel with modern conveniences, making it attractive for families, young professionals, and retirees. The Metra train station, offering a 30-minute express ride to downtown Chicago, and proximity to O’Hare International Airport, just 10 miles away, enhance its appeal for commuters and frequent travelers.

The demand for apartments and condominiums in Mount Prospect has surged, particularly in the downtown area, where new luxury developments have transformed the landscape. According to Zillow, as of early 2025, there are 55 homes listed for sale in Mount Prospect, including 12 condos and apartments, reflecting a competitive yet accessible market. These properties range from cozy one-bedroom units to spacious multi-bedroom condos, catering to diverse buyer needs.

Key Apartment Developments in Mount Prospect

Several high-profile apartment complexes have recently been developed or listed for sale, reshaping Mount Prospect’s downtown. These projects highlight the village’s commitment to transit-oriented, mixed-use developments that blend residential, commercial, and public spaces. Below are some notable examples:

Top of The Mount Apartments (Formerly Maple Street Lofts)

Located at 207 S. Maple St., the Top of The Mount Apartments, previously known as Maple Street Lofts, is a six-story, 192-unit luxury complex. Developed by the Wingspan Development Group (owned by the Papanicholas family) and sold to TLC Management Co. for $60 million in 2024, this property exemplifies modern urban living. The complex features high-end finishes, a resort-style pool, a 24/7 fitness and yoga studio, a pet spa, and direct access to Angelo Caputo’s Fresh Markets on the ground floor. Apartments here range from one-bedroom units starting at $2,091 to two-bedroom units up to $3,526, appealing to professionals seeking convenience and luxury.

The development faced initial community pushback due to concerns about building height and traffic, but developer Nick Papanicholas emphasized its transformative impact on downtown Mount Prospect. TLC Management, now the owner, operates over 30 properties in the Chicago area and has positioned Top of The Mount as a flagship community.

20West

Situated at 20 W. Northwest Hwy., 20West is a six-story mixed-use development with 73 luxury apartments and a two-story restaurant, The Prospect, operated by Big Fish Hospitality. Developed by Nicholas & Associates, Inc., this project includes rooftop seating for residents and the restaurant, along with public parking improvements. Approved by the Village Board in 2018, 20West reflects Mount Prospect’s strategic goal to redevelop underutilized sites and enhance the downtown aesthetic.

The Dawson

Under construction at 235 E. Prospect Ave., The Dawson is another Papanicholas family project marketed as part of the “Mount Prospect Portfolio: Multifamily Trio” alongside 20West and Maple Street Lofts. This luxury apartment complex adds to the village’s growing inventory of high-end residential options, appealing to buyers and investors interested in modern, amenity-rich properties.

HQ Residences

The former Mount Prospect police and fire headquarters has been redeveloped into HQ Residences, a luxury apartment complex. A ribbon-cutting ceremony in October 2024 celebrated its transformation, which includes upscale apartments and a restaurant. This project underscores the village’s efforts to repurpose public sites for private development, boosting economic activity and housing options.

These developments, many of which were listed for sale in 2024, highlight the investment potential of Mount Prospect’s apartment market. Companies like Redfin, Zillow, RE/MAX, and LoopNet actively list these properties, offering detailed filters for buyers to find units that match their preferences.

The Role of Real Estate Professionals in Mount Prospect

While no direct reference connects Doug DiBasilio to Mount Prospect’s real estate market, the involvement of professionals—whether agents, brokers, or developers—is critical to navigating this competitive landscape. Let’s explore how someone like Doug DiBasilio could hypothetically operate in this space, based on typical roles in the industry.

Real Estate Agent or Broker

If Doug DiBasilio were a real estate agent or broker in Mount Prospect, he would likely work with a firm like RE/MAX, Coldwell Banker, or Compass, which maintain strong presences in the area. These companies offer powerful search tools for buyers, connecting them with condos, apartments, and other properties. An agent would assist clients in touring properties, negotiating prices, and understanding market trends. For example, Redfin reports 63 homes for sale in Mount Prospect, updated every five minutes, indicating a fast-paced market where agents must act quickly to secure deals.

An agent like DiBasilio could specialize in downtown properties, guiding buyers toward luxury condos in complexes like Top of The Mount or 20West. They would highlight amenities such as proximity to the Metra station, modern finishes, and access to downtown dining and shopping, tailoring their pitch to urban professionals or retirees seeking low-maintenance lifestyles.

Developer or Investor

Alternatively, if Doug DiBasilio were a developer, he might emulate figures like Nick Papanicholas, whose Nicholas & Associates, Inc. has driven major projects like 20West and Maple Street Lofts. Developers in Mount Prospect collaborate with the village to secure approvals for Planned Unit Developments (PUDs), navigating zoning commissions and public hearings. The Maple Street Lofts, for instance, required extensive community engagement to address concerns about height and traffic, a process DiBasilio would need to master.

As an investor, DiBasilio could acquire apartment buildings for sale, such as the single listing on LoopNet or the “Mount Prospect Portfolio” marketed in 2024. These investments offer rental income potential, especially given the high demand for luxury apartments near transit hubs.

Commercial Real Estate Specialist

LoopNet, a leading commercial real estate marketplace, lists 34 commercial properties for sale in Mount Prospect, including apartment buildings. A specialist like DiBasilio could focus on connecting investors with multi-family units, leveraging LoopNet’s broker network to facilitate transactions. This role requires expertise in market analysis, property valuation, and tenant management, particularly for mixed-use developments like 10 N. Main, which combines 97 apartments with commercial spaces.

Market Trends and Opportunities

Mount Prospect’s apartment market is shaped by several trends that professionals like Doug DiBasilio would need to understand:

• Luxury and Amenities: Buyers and renters prioritize modern finishes, fitness centers, pet-friendly spaces, and proximity to retail. Developments like Top of The Mount cater to this demand with resort-style pools and EV charging stations.

• Transit-Oriented Development: The village’s focus on projects near the Metra station, such as Maple Street Lofts, appeals to commuters and reduces reliance on cars.

• Redevelopment of Underutilized Sites: Projects like HQ Residences and 10 N. Main demonstrate Mount Prospect’s strategy to transform vacant or outdated properties, creating opportunities for developers and investors.

• Competitive Pricing: Condo prices vary widely, with Zillow listing units from affordable one-bedroom condos to high-end two-bedroom apartments. This range allows buyers at different income levels to enter the market.

Challenges in the Market

Despite its strengths, Mount Prospect’s real estate market faces challenges. Community opposition to large developments, as seen with Maple Street Lofts, can delay projects. Concerns about traffic, building height, and property values require developers to engage transparently with residents. Additionally, the competitive nature of the market demands that agents and brokers stay updated on listings, as properties can move quickly.

How to Navigate the Market

For buyers or investors interested in Mount Prospect apartments, working with a knowledgeable professional is key. Platforms like Redfin, Zillow, and RE/MAX offer comprehensive listings, while local agents can provide insights into upcoming developments. Visiting properties in person, such as those in the “Mount Prospect Portfolio,” allows buyers to assess amenities and location firsthand. For investors, analyzing rental yield potential and market growth trends is crucial, especially for luxury complexes with high occupancy rates.

Conclusion

Mount Prospect’s apartment market offers a wealth of opportunities for buyers, investors, and real estate professionals. With luxury developments like Top of The Mount, 20West, The Dawson, and HQ Residences, the village has solidified its status as a prime destination for modern living. While Doug DiBasilio’s specific role in this market remains hypothetical, the involvement of agents, brokers, and developers is essential to unlocking the potential of Mount Prospect’s real estate. By leveraging market trends, understanding community dynamics, and utilizing platforms like LoopNet and Zillow, stakeholders can navigate this vibrant market with confidence. Whether you’re seeking a cozy condo or a multi-family investment, Mount Prospect’s blend of suburban charm and urban convenience makes it a compelling choice in 2025.