Mezza
US - Jacksonville, FL
440 units
Asset Description
Jones Lang LaSalle Americas (Illinois), LP. (JLL) is pleased to present Woodlands of Crest Hill, a multi-housing community located in dynamic and developing Crest Hill, a southwest suburb of Chicago in Will County.
Woodlands of Crest Hill offers a variety of in-demand layouts from ideal studios to two-bedroom homes.
This community offers a convenient lifestyle including flawless finishes, spacious floorplans with ample storage, and a modern collection of amenities including a recently renovated clubhouse.
Woodlands is ideally located off of Theodore Street, adjacent to Plainfield Road, the main thoroughfare for the southwest suburbs, with immediate access to fantastic retail, grocery, and dining. With easy access to I-55, Crest Hill is a Village on the rise adjacent to the Des Plaines River featuring top-rated schools, Lewis University, and 38 million square feet of industrial development including new distribution centers for Amazon and Wayfair.
Woodlands is 95% occupied and achieving an impressive 17%+ growth on new leases and 7%+ on renewals.
...
Attributes
Number of units
732 units
Occupancy
93.00%
Year built
1972
Building area Net
51,860 m²
Land area net
10.81 ha (108,051 m²)
Media
Investment Highlights
Dynamic Apartment Community
- Current ownership has spent upwards of $6.8 million on programmatic renovations since 2018
- Ideal amenities highlighted by resort-style pool & sun deck, modern clubroom, and fitness center
- Institutionally managed since 2018
Fantastic Property Performance
- 95% Occupied
- 17%+ Effective Growth on New Leases
- 7%+ Effective Growth on Renewals
- Verifiable value-add program with $284 achieved premiums on full renovations
Path-of-Growth Location
- Will County hosts the largest inland container port in the US, attracting major distributors
- Immediate Access to I-55 Job Corridor (99MM+ Industrial SF) including New Hubs for Amazon and Wayfair, and WeatherTech HQ
- Neighbors all-stop shops including Jewel Osco, BigLots, Ross, Hobby Lobby, Food4Less, and more
- ~15 Minutes to Joliet Mall, Promenade at Bolingbrook, and Harrah’s Casino
Robust Fundamentals
- 5.1% YoY effective rent growth
- 95% projected 5-year average occupancy
- 6.4% projected 3-year average rent growth
- No properties under construction within a 3-mile radius
Contact brokers
Woodlands of Crest Hill (0 Properties)
JLL can help you finance and manage your portfolio. Email us today to see how we can help achieve your ambitions.
Last updated
18 Apr 2023
