Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

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Attributes

Year Built 1972
Building Area
Number of units 408

Property Description

JLL is pleased to present Oak Brook Heights, a spectacular 408-unit, gardenstyle

apartment and townhome community located on the edge of Chicago’s

preeminent suburb, Oak Brook, in DuPage County. Offering a variety of spacious

and efficient floorplans, Oak Brook Heights features direct private entrances

on all units and 220 townhomes (54% of total units), both providing a unique

attraction for renters within the immediate submarket. In addition, the Property

offers a robust offering of amenities, including a recently renovated clubhouse

and fitness center.


With easy access to top employers, area amenities, the I-88 corridor, and

downtown Chicago, Oak Brook Heights offers investors a top quality asset

located within a premier submarket.

Investment Highlights

Sizeable Value-Add Opportunity

  • 87% (354) of units are renovated
  • Low Rent-to-income ratio (13%) post-renovation program
  • Enclosed yards
  • Fire pit & grilling area

Significant Capital Investment

  • ~$9M invested in ‘06-‘07 (unit renovations, amenity upgrades, mechanical upgrades, exteriors)
  • Since Q4 2020, ~$600,000 spent by current ownership (clubhouse, fitness center, package room, exterior painting, and wood repairs)
  • Since 2017, ownership has invested over $4M

Sought-After Features

  • 54% of units are large townhomes
  • Private entrances
  • Large average unit size of 990 sf
  • Patio or balcony in every unit
  • 3-beds - only one other property in the submarket offers 3-bed units

Excellent Performance

  • 96% occupancy
  • Exceptional 15% growth on lease trade-outs

Supply Desert

  • Minimal comparable assets under construction
  • 95%, 5-year projected average occupancy

Premier Location

  • DuPage County location
  • Adjacent to Oak Brook
  • Premier nearby retail, including Oakbrook Center

Top Employers

  • Outstanding access to Chicagoland’s employment corridors, including a short drive from the I-88 corridor

Proximity to Transportation

  • Immediate access to I-355, I-88, IL-83, I-294, and Ogden Avenue
  • 5-min from the Westmont Metra Station
Last Updated Date: 10 Jun 2021
Marty O'Connell
Marty O'Connell
Senior Managing Director, Capital Markets
License details
IL-475.099044 KY-68521
Kevin Girard
Kevin Girard
Senior Director, Capital Markets
License details
IL-475.17469

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Last Updated Date: 10 Jun 2021

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