1 Ovaltine Ct, Villa Park, IL, 60181-2758, US

Ovaltine Court

Asset Description

Jones Lang LaSalle Americas (Illinois), L.P. (JLL), is pleased to present Ovaltine Court Apartments, a charming traditional and loft apartment community in West Suburban Chicago’s thriving Village of Villa Park in DuPage County. Ovaltine Court offers a variety of in-demand layouts across buildings from spacious one-bedroom to two-bedroom lofts & townhomes. The community offers the best of both city and suburban living with thoughtful finishes, generous floor plans, ample storage, and a resort style amenities package.

Ovaltine Court is situated just off I-83, the main thoroughfare for Villa Park, with immediate access to restaurants, entertainment, offices, grocery retailers, and unmatched outdoor recreation making it a top destination for renters.

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Attributes

Number of units

344 units

Occupancy

96.00%

Year built

2001

Building area Net

28,891 m²

Land area net

5.53 ha (55,280 m²)

Media

Investment Highlights

One-of-a-Kind Asset

Diverse floor plan optionality across one to two-bedroom traditional and loft apartment homes
Value-Add Opportunity to modernize homes and push rents
Thoughtfully designed interiors & resort-style community amenities package
Over the last 5 years Ownership has spent ~$1.6 million on property improvements and unit upgrades

Fantastic Property Performance

Effective rents on last 25 leases posted $2.29 PSF, a 9% increase over in-place rents
Strong 95% Average Historical Occupancy (2018 – Present)
11% rent growth on new leases and renewals over the last 12 months
13% Resident Rent-to-Income Ratio provides plenty of runway for rent growth

Path-of-Growth Location

Immediate access to I-83 Employment Corridor (features new hubs for Amazon, Wayfair, and WeatherTech HQ)
Access to everything location situated at the center of all-stop shops, fast-casual eateries, national grocery chains, Metra/Amtrak rail lines, and unbeatable outdoor recreation