Deer Valley Apartments_Property for Sale
Deer Valley Apartments_Property for Sale
30011 N Waukegan Rd, Lake Bluff, IL, 60044-1045, US

Deer Valley Apartments

Asset Description

JLL is pleased to present Deer Valley Apartments (“The Property”), a 224-home garden apartment community located in suburban Chicago’s prestigious Lake Bluff suburb. The Property offers spacious one and two-bedroom floor plans and an opportunity for investors to modernize interiors through a value-add program. Deer Valley Apartments provides residents with a true live, work, play experience. Residents at Deer Valley Apartments have easy access to plentiful area amenities, Libertyville’s award-winning school district, and top employers. Most notably, the property is located adjacent to Abbott Park, which serves as the headquarters for both Abbott and AbbVie. Additionally, the property is less than a 10-minute drive from Northwestern Lake Forest Hospital, Rosalind Franklin University of Medicine & Science, and the Great Lakes Naval Station.

 

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Attributes

Number of units
224
Occupancy
95%
Year built
1989
Building area net
18,581 m²
Land area net
5.46 ha

Media

Investment Highlights

Sought-After Investment Opportunity

  • Spacious units with ideal unit mix of one and two bedroom units
  • Value-add opportunity indicating significant rent growth upside
  • Newly renovated resident clubhouse
  • Rare 1990s built asset in suburban Chicago
  • Lake County location in Lake Bluff - a premier north shore location


Irreplaceable North Shore Location

  • In the top 1% place to raise a family in America
  • Residents of Lake Bluff benefit from exceptional education options provided by Libertyville High School and the prestigious Oak Grove School District
  • Lake Bluff offers a charming friendly small-town atmosphere, making it an ideal place to live for those seeking a tight-knit community
  • Deer Valley is ideally situated, just a short 10-minute drive from the picturesque Lake Bluff Beach and to high-end downtown Lake Forest. Additionally, it is a 7-minute drive to both the Lake Bluff Metra Station and downtown Lake Bluff
  • Minutes to I-94 and US HW-41, providing easy access to Chicago and Milwaukee, and a plethora of employers in between the metros


Proximity to Strong Workforce

  • Close to 8 Fortune 500 firms within Lake County including direct access to headquarters Abbvie and Abbott Laboratories
  • Easy access to downtown Chicago’s top employers
  • Within 1 mile of the property 86% of residents are employed in professional occupations


Robust Submarket with Strong Fundamentals


  • 6.5% 3-Year historical average annual rent growth 
  • 4.1% 5 - Year projected average annual rent growth 
  • 96% 5 - Year projected average occupancy 
  • High barriers to entry and muted supply pipeline pave the way for successful rent growth 
  • 0 Properties under construction within a 5 mile radius
Deer Valley Apartments 4_Property for Sale
Deer Valley Apartments 4_Property for Sale

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Last updated
8 Nov 2024