Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1946
Building Area Net
Rentable Area
Number of units 220

Asset Description

JLL (“Jones Lang LaSalle”) is pleased to present Central Park, a 220-unit garden-style townhome community located in Park Forest, Illinois, roughly 30 miles south of Chicago. Central Park features very spacious layouts, with a mix of 1-3 bedroom layouts and an average unit size of 1,150 SF.


The property is located in Park Forest, a stable working-class suburb of Chicago with over 2,000 acres of parks, recreation facilities and open land. Residents of the property will enjoy easy access to top suburban and downtown employers via the local Metra stations as well as I-57 and US 30. Central Park provides investors with an exceptional opportunity to acquire a high-quality asset in a growing submarket with significant value-add upside.

Investment Highlights

Investment Criteria

  • Upside through Interior Renovations
  • Upside through Washer/Dryer Installation
  • Direct Access Private Enterances
  • High Stabilized Occupancy >97%
  • Very Large Floor Townhome Plans - 1,150 SF
  • Additional Usable Basement Space

Exceptional Suburban Location

  • Close Proximity to Highways US-30 and I-57
  • Easy Access to Top Suburban and Downtown Employers
  • Stable Working-Class Neighborhood

Stellar Submarket Performance

  • 5-Yr Projected Average Occupancy >96%
  • 5-Yr Projected Annual Rent Growth >4.6%
  • Zero Properties Undet Construction within a 3-Mile Radius
Last Updated Date: 11 Aug 2022

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Last Updated Date: 11 Aug 2022

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