Completed in 2019, Project Had Quick Turnaround of Sale Despite Pandemic Slowdown

Vincent Real Estate, a subsidiary of Eden Prairie-based Vincent Companies, has announced alongside its project partners the sale of Lake Jonathan Flats for $30 million, an average of $256,400 per unit.  Located in Chaska, MN, the 117-unit, three-story market-rate apartment building was completed in 2019 after 18 months of construction.  The quick sale – even in the midst of the Covid-19 pandemic – reflects the robust demand for residential properties in the Minneapolis suburbs.  To date, VRE and its partners have developed and owns over 4,000 units in the area.

With beautiful views of Lake Jonathan, the Lake Jonathan Flats luxury apartment community features studio, alcove, 1, 1+, 2 & 2+ bedroom layouts, with a distinctly stylish and modern design incorporating granite countertops, over-sized windows, and stainless-steel appliances.  The three-story structure includes a two-story underground, heated, controlled-entry parking garage.  There’s convenient indoor trash and recycling collection, and designated bicycle parking.  Dogs and cats are welcome.

“Growing up in Chaska, I watched all of the new development and growth over the past 30+ years. To be a part of this project and bring value to the community in which I was raised was particularly special to me,” said Ryan Litfin, co-founder and Managing Partner of Vincent Real Estate and Vincent Companies.

Chaska is consistently ranked as one of the best places to live in Minnesota.  Located in Carver County, the area offers a suburban feel with numerous park options.  The public schools are highly rated, there is virtually zero crime, and the area boasts a median household income of $85,143 (vs. $62,843 nationally).


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