Description

Jones Lang LaSalle Americas (Illinois), L.P. (JLL) is pleased to present The Grove at Schaumburg (the “Property” or “The Grove”), a 367-home garden-style apartment community located in the upscale northwest suburb of Schaumburg.

The Grove at Schaumburg provides residents with comfortable living in a variety of in-demand apartment layouts from one-bedroom to three-bedroom homes. There is a plethora of on-site amenities including an outdoor pool and sundeck, playground, tennis court, fitness center, community lounge, game room, and more. Due to continued investment in the property by current ownership and strong performance of the submarket, a new investor has the opportunity to put their touch on the project by employing an apartment interior value-add program.

The Grove at Schaumburg offers a perfectly positioned location with convenient access to major employment centers, distinguished dining and retail establishments, and an abundance of nearby golf courses, parks, and nature preserves. Residents benefit from proximity to Schaumburg’s highly- rated public school system and leading healthcare institutions. This opportunity is available free and clear.

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Attributes

Units

367

Year built

1973

Rentable area

27,813 sm

Media

Investment highlights

Excellent Investment Opportunity

Sought-After Value Add Upside in Units
$9M+ Of Capital Invested in the Property since 2019
Impressive 56% Retention YTD

Ideal Suburban Chicago Location

Immediate Access to I-90 and I-290 for Easy Entry to Suburban and Downtown Employment
Highly-Ranked Education – J.B. Conant High School (Top 3% of High Schools in Illinois)
Located in the Golden Corridor containing Suburban Chicago's Top Employers

#1 Suburban Chicago Market Fundamentals

Outsized Outdoor Amenity Package including Swimming Pool and Sundeck, Tennis Court, Playground, Dog Park and Grilling Stations
Modern Community Spaces such as Newly Renovated Resident Clubhouse, Kitchen, 24-Hour Fitness Center, Game Room and Business Center
Ideal Unit Features including Large Closets and Private Outdoor Space

Strong Schaumburg Submarket