Lakes at 8201_Property for Sale
Lakes at 8201_Property for Sale
8201 Polo Club Dr, Merrillville, IN, 46410-5378, US

Lakes at 8201

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”), a licensed real estate broker is pleased to present The Lakes at 8201, a 628-home garden-style apartment community located in bustling Merrillville, Indiana. Just 40 miles southeast of Chicago, Merrillville is a vibrant midwestern town known as a hub for retail trade harboring a large concentration of big-box retailers, restaurants, and automobile dealerships. The property is uniquely positioned to offer residents a calm, picturesque setting with mature trees, lush green space, and a large pond in the middle of the property. Originally built in 1995, the community offers desirable floor plans and ample amenity space prime for a programmatic renovation plan to take this asset into its next chapter. Lakes at 8201’s strategic HW-30 location provides convenient access to top employers, local shopping centers, Southlake mall, and a plethora of outdoor attractions. This rare investment opportunity is available all cash.



Number of units
627 units
Year built
Building area Gross
57,735 m²


Investment Highlights

Justifiable Value-Add Upside

  • Major interior renovation potential
  • 94% Original Units
  • Room to push rents - 22% Rent-to-Income ratio

Ideal Investment Criteria

  • Last 95-Leases Signed achieving $1.29 PSF Rents
  • Phenomenal construction quality and community amenity package
  • Spacious Floor Plans - Average 990 SF

Exceptional Northwest Indiana Location

  • Direct access to top employment corridors via US-30, I-65, & I-80/94
  • Access to top ranked Southlake Mall and numerous recreational options
  • Proximate to Fortune 500 Energy Company NiSource & Centier Bank - Indiana’s Largest Private Bank

Stellar Submarket Performance

  • 5% Average Projected Annual Rent Growth over the next 3 years
  • 5-Year Projected Average Occupancy 95%
  • Zero Projects Under Construction Within a 1-Mile Radius
Lakes at 8201 4_Property for Sale
Lakes at 8201 4_Property for Sale

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Last updated
10 Apr 2023