Living / Multi-housing

Central Park

11 Fir St, Park Forest, IL, 60466-1706, US

Central Park_Property for Sale

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Central Park 2_Property for Sale

Asset description

JLL (“Jones Lang LaSalle”) is pleased to present Central Park, a 220-unit garden-style townhome community located in Park Forest, Illinois, roughly 30 miles south of Chicago. Central Park features very spacious layouts, with a mix of 1-3 bedroom layouts and an average unit size of 1,150 SF.


The property is located in Park Forest, a stable working-class suburb of Chicago with over 2,000 acres of parks, recreation facilities and open land. Residents of the property will enjoy easy access to top suburban and downtown employers via the local Metra stations as well as I-57 and US 30. Central Park provides investors with an exceptional opportunity to acquire a high-quality asset in a growing submarket with significant value-add upside.

Attributes

Number of units
220 units
Occupancy
97.00%
Year built
1946
Building area Net
252,439 sf

Investment highlights

Investment Criteria

  • Upside through Interior Renovations
  • Upside through Washer/Dryer Installation
  • Direct Access Private Enterances
  • High Stabilized Occupancy >97%
  • Very Large Floor Townhome Plans - 1,150 SF
  • Additional Usable Basement Space

Exceptional Suburban Location

  • Close Proximity to Highways US-30 and I-57
  • Easy Access to Top Suburban and Downtown Employers
  • Stable Working-Class Neighborhood

Stellar Submarket Performance

  • 5-Yr Projected Average Occupancy >96%
  • 5-Yr Projected Annual Rent Growth >4.6%
  • Zero Properties Undet Construction within a 3-Mile Radius
Central Park 4_Property for Sale
Central Park 4_Property for Sale

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Last updated
Nov 30, 2022