Objektbeschreibung
Jones Lang LaSalle Americas (Illinois), L.P. (JLL), is pleased to present Ovaltine Court Apartments, a charming traditional and loft apartment community in West Suburban Chicago’s thriving Village of Villa Park in DuPage County. Ovaltine Court offers a variety of in-demand layouts across buildings from spacious one-bedroom to two-bedroom lofts & townhomes. The community offers the best of both city and suburban living with thoughtful finishes, generous floor plans, ample storage, and a resort style amenities package.
Ovaltine Court is situated just off I-83, the main thoroughfare for Villa Park, with immediate access to restaurants, entertainment, offices, grocery retailers, and unmatched outdoor recreation making it a top destination for renters.
Eigenschaften
Medien
Investment-Highlights
One-of-a-Kind Asset
- Diverse floor plan optionality across one to two-bedroom traditional and loft apartment homes
- Value-Add Opportunity to modernize homes and push rents
- Thoughtfully designed interiors & resort-style community amenities package
- Over the last 5 years Ownership has spent ~$1.6 million on property improvements and unit upgrades
Fantastic Property Performance
- Effective rents on last 25 leases posted $2.29 PSF, a 9% increase over in-place rents
- Strong 95% Average Historical Occupancy (2018 – Present)
- 11% rent growth on new leases and renewals over the last 12 months
- 13% Resident Rent-to-Income Ratio provides plenty of runway for rent growth
Path-of-Growth Location
- Immediate access to I-83 Employment Corridor (features new hubs for Amazon, Wayfair, and WeatherTech HQ)
- Access to everything location situated at the center of all-stop shops, fast-casual eateries, national grocery chains, Metra/Amtrak rail lines, and unbeatable outdoor recreation
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