725 W Bode Cir, Hoffman Estates, IL, 60169-2901, US

Haven Hoffman Estates

Asset Description

Jones Lang LaSalle Americas (Illinois), L.P. (JLL) is pleased to present Haven Hoffman Estates (the “Property” or “Haven Hoffman”), a 550-home garden-style community located in the upscale northwest suburb of Hoffman Estates. This 97% leased community offers a variety of in-demand layouts across buildings including studios, one-bedrooms, and two-bedrooms. The Property offers an investor the opportunity to modernize interiors via the continuation of a verifiable value-add renovation program as well as numerous opportunities for further enhancements.

Located just 30 miles to Downtown Chicago, Haven Hoffman offers countless amenities both within the community and in the surrounding area. The Property is perfectly situated adjacent to I-90 and I-290 providing easy access to top employment, highly-rated schools, and renowned healthcare. Residents at Haven Hoffman have the best of both worlds with unbeatable dining and shopping nearby as well as a plethora of adjacent lush golf courses, parks, and nature preserves.

This opportunity is available free and clear.

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Attributes

Year built

1970

Number of units

550

Occupancy

96%

Media

Investment Highlights

Ideal Investment Criteria

97% Occupancy | No Concessions Offered
11% Tradeouts on New Leases | 8% Tradeouts on Renewal Leases
Verifiable Value-Add Upside with over 50% of Units Available to Renovate
Impressive $200+ Premiums for Renovated Units
12% Rent-to-Income Ratio Proves Room to Push Rents

In-Demand Suburban Location

Located in the Golden Corridor nearby Top Employers such as Gallagher, US Foods, and Allstate
Immediate Access to I-90 and I-290 as well as a 20-Minute Drive to O’Hare International Airport
Close Proximity to Woodfield Mall, Streets of Woodfield Shopping Plaza, and a variety of Restaurants, Retail and Grocery Stores
Situated within 30-Minutes of 3 Top Ranked Hospitals
#3 Best School Districts in Cook County (Township High School District 214)

Favorable Submarket Forecast

95% Projected 5-Yr Avg. Occupancy
4% Projected 5-Yr Avg. Rent Growth
No Properties Under Construction within a 3-Mile Radius
< 375 Projected Units Delivered through 2029 within Schaumburg Submarket
Only Four Properties >100 Units Delivered in the Last Thirty Years

Elevated Living Experience

Resort-Style Amenities including Swimming Pool with Sundeck, Fitness Center, Picnic Area, and Modern Clubhouse
High-End Features in Renovated Units including Granite Countertops, Stainless- Steel Appliances, and Custom Built-in Shelving
Desirable Interiors in Every Unit such as Walk-in Closets and Open Floor Plans
Walking Distance to Three Lush Parks with Tennis Courts, Ponds, and Playgrounds