Element at Veridian

2200 Progress Pkwy, Schaumburg, IL, 60173-7406, US

Description

Jones Lang LaSalle Americas (Illinois), L.P. (JLL) is pleased to present Element at Veridian (the “Property” or “Element”), a 268-home mid-rise apartment complex located in the upscale northwest suburb of Schaumburg. Element at Veridian provides residents with above-and-beyond luxury living in a variety of in-demand apartment layouts from spacious studios to three-bedroom homes. All units feature the finest finishes with modern kitchen designs, ample storage, and private balconies. Additionally, the property offers a resort-style collection of amenities including a yoga studio, fitness center, expansive outdoor terrace, office suites, luxurious pool, and a grooming station to go along with the large gated pet parks.

Element at Veridian is ideally situated adjacent to I-90 and I-290 with immediate access to top employment, an unbeatable dining and shopping scene, as well as a plethora of lush surrounding golf courses, parks, and nature preserves. Schaumburg’s A+ rated public schools and best in state healthcare allow residents to have the highest quality of life with everything at their fingertips. This opportunity is available free and clear.

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Attributes

Year built

2020

Number of units

268

Parking spaces

368

Media

Investment Highlights

Incredible Investment Opportunity

Extremely Strong Trade-outs YTD of 5%+ ($120)
Impressive 74% Retention YTD
Low 16% Rent-to-Income Ratio Proves Room to Push Rents

Elevated Living Experience

Expansive Outdoor Amenity Package including Swimming Pool, Terrace, Firepits, Grilling Stations and Dog Park
Multiple Community Spaces including Great Room, Kitchen, 24-Hour Fitness Center, Business Center and Rentable Office Spaces
Top-of-the-Line Finishes in All Units

Ideal Suburban Chicago Location

Immediate Access to I-90 and I-290 | 20-Minute Drive to O’Hare International Airport
William Fremd High School (Top 2% of High Schools in the U.S)
Schaumburg is Home to More Businesses than Any Other Suburb in Illinois

Flourishing Schaumburg Reinvented

97% 5-Year Projected Average Occupancy
5% 5-Year Projected Average Rent Growth
Within the District of Veridian Development | Future Home to 270,000 SF of Retail/Dining, 80,000 SF of Office Space and New Apartments