Cypress Place

975 Jefferson Square, Elk Grove Village, IL, 60007-4041, US

Description

Cypress Place is a garden-style apartment complex located in Elk Grove Village, a highly desirable northwestern suburb of Chicago. The immediate vicinity of Cypress Place is home to award-winning schools, the many parks along the Salt Creek and Busse Woods Trail, and Rainbow Falls Waterpark. The community is just minutes to Elk Grove Business Park, the largest business park in North America, Woodfield Mall, the largest shopping mall in the state, major Interstates 90 and 290, and top employment centers near Schaumburg and O’Hare International Airport.

The community sits on more than 9 acres of land along the Salt Creek, has been institutionally owned and managed, boasts upgraded amenities and three tiers of renovated homes. Cypress Place is consistently in demand from residents seeking a home in the Elk Grove High School district, consultants looking for proximity to O’Hare International Airport, and professionals working in Elk Grove Business Park as well as the Fortune 500 companies in neighboring Schaumburg. The community includes a mix of one and two-bedroom apartments, and is currently 99% occupied.

...

Attributes

Year built

1974

Units

192

Parking spaces

337

Media

Investment highlights

Incredible Investment Opportunity
100% value-add upside
99% Occupied
74% resident retention YTD
Optionality to add in-demand amenities

Unrivaled Fundamentals
#1 rent growth (4.5%) with lowest supply nationally among suburban markets
96% projected average occupancy for the next 5 years

Idyllic Chicago Suburb
Township School District 214 rated A+ by Niche
Home to 5,600+ businesses; hosts one of Chicago’s powerhouse industrial submarkets (O’Hare)
Adjacent to a plethora of employment hubs: Elk Grove, O’Hare, Schaumburg, and Hoffman Estates