Living / Multi-housing

Whitcomb Terrace Apartments

3944 W 77th Pl, Merrillville, IN, 46410-5070, US

Whitcomb Terrace Apartments_Property for Sale

Gallery

Whitcomb Terrace Apartments 2_Property for Sale

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”), a licensed real estate broker is pleased to present Whitcomb Terrace Apartments, a 264-home garden-style apartment community located in Merrillville, Indiana. Originally built in 1981, the property offers spacious layouts with a mix of 1-2 bedroom layouts and brand-new community amenities and clubhouse. Whitcomb Terrace provides investors the opportunity to continue the value-add strategy through interior renovations with over 60% of units remaining. Situated 40 miles southeast of Chicago, the property is located in Merrillville, IN. Whitcomb Terrace boasts proximity to HW-30 providing convenient access to top employers, local shopping centers, Southlake Mall and more! This rare investment opportunity is available on a free and clear basis.

Attributes

Number of units
264 units
Year built
1981
Building area Net
251,570 sf

Investment highlights

Verifiable Value-Add Opportunity

  • Over $330 Premiums on Renovated Units
  • ~65% of Units have Renovation Potential

Fantastic Trade-Out Story

  • 37% Trade Outs on New Leases
  • 13% on Renewals

Picture Perfect Northwest Indiana LocationImmediate

  • Access to Highways US-30 & I-65
  • 45 Minutes Southeast of Chicago

Stellar Submarket Performance

  • Zero Properties Under Construction within a 5-Mile Radius
  • 6% Average 5-Year Projected Rent Growth


Contact brokers

Similar properties

View moreChevron Right
Do you have any questions? Visit our FAQ page
View FAQ PageArrow Right
JLL can help you finance and manage your portfolio. E-Mail us today to see how we can help achieve your ambitions.
Last updated
Nov 30, 2022