Watermark at the Grove
2511 Watermark Ter, Elgin, IL, 60124-3001, US
Jones Lang LaSalle Americas (Illinois), L.P. “JLL” is pleased to present Watermark at the Grove (“Watermark”) a 282-unit, luxury style apartment community located in the dynamic northwest suburb of Elgin, IL.
Watermark offers a variety of spacious layouts ranging from one-bedroom to two-bedroom homes, all with private balconies or patios. Each of the five buildings also offers underground heated parking. The property sets the standard for luxury living, offering residents a resort-style collection of amenities and top tier home finishes and features.
The property is perfectly situated along the I-90 corridor with convenient access to Chicago’s employment centers including access to 38M+ SF of industrial, ranked schools, dining, and entertainment. Watermark at the Grove is part of a master planned development including Northwest Corporate/Business Park and The Grove. The Grove is a 30-acre mixed use restaurant, retail, and hotel development with 20+ retailers steps away from the property.
This unbeatable opportunity is available via an accretive assumable loan (HUD - 3.31% note rate + 0.25% MIP).
- Diversified employment base with national and local employers - High concentration of institutionally owned business parks nearby
- Immediate access to I-90 and Randall Road Northwest interchange employment corridor – Employers include Amazon, JP Morgan Chase, and Motorola Solutions
- Neighbors The Grove Retail - 30-acre mixed use restaurant, retail, and hotel development with retailers including Starbucks, Chipotle, and Panera Bread
- Muted supply pipeline - no projects under construction within a 5-mile radius
- 96% Projected 5-Year Avg Submarket Occupancy
- 8% YoY Effective Rent Growth in Submarket
- Tax Clarity (not Cook County)
Award-Winning Apartment Community
- Large Avg. Unit Size - 941 SF and Private Entries/Balconies in every unit
- Luxury amenities highlighted by a resort-style pool, clubhouse, fitness center, two expansive outdoor dog parks, and a 6-acre terrace which includes a beautiful green space and breathtaking pond views
- 1-Mile long scenic walking path along property