Hampton In Highland_Property for Sale
Hampton In Highland_Property for Sale
2300 Azalea Dr, Highland, IN, 46322-2409, US

Hampton In Highland

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”), a licensed real estate broker is pleased to present Hampton in Highland Apartment Homes, a 455-unit garden-style apartment community located in charming Highland, Indiana. Just 30 miles southeast of Chicago, Highland is a vibrant midwestern town known as a hub for retail trade harboring a large concentration of big-box retailers, healthcare providers, and manufacturing companies including Whirlpool, Dana Corporation, & ArvinMeritor. Originally constructed in 1975, the community offers desirable 1-2 bedroom floor plans & ample amenity space prime for a programmatic renovation plan to take this asset into its next chapter. The property features a robust amenities package including a fitness center, sauna, outdoor swimming pool, tennis courts, community lounge and game room. Hampton in Highland provides investors an opportunity to continue the verifiable value-add strategy through interior unit renovations. The community is conveniently located next to HW-41, providing easy access to top employers, local retail, dining, and entertainment venues. This rare investment opportunity is available all cash.

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Attributes

Number of units
455 units
Occupancy
95.00%
Year built
1971
Building area Net
438,740 sf

Media

Investment Highlights

Verifiable Value-Add Upside

  • 73% Original Units with Full Renovation Potential
  • $200+ Avg Premium on Renovated Units
  • Significant Room to Push Rents - 14% Rent-to-Income Ratio

Ideal Investment Criteria

  • Recent Leases achieving $1.50+ PSF rents
  • Zero Concessions Offered
  • Phenomenal construction quality and community amenity package
  • Spacious Floor Plans - Average 920 SF

Exceptional NW Indiana Location

  • Direct access to top employment corridors via US-41, I-80/94, & I-65
  • A- Overall Niche Ranking
  • 30 Minutes to Downtown Chicago
  • Access to local shopping, entertainment & recreation options including Indiana Dunes State Park & Friendship Botanical Gardens

Stellar Submarket Performance

  • ZERO Projects Under Construction within a 5-mile radius
  • 5-Year Projected Average Occupancy of 95%
  • 4% Projected Annual Rent Growth over the next 3 years
Hampton In Highland 4_Property for Sale
Hampton In Highland 4_Property for Sale

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Last updated
10 Jul 2023