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.

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Attributes

Number of units

627 units

Occupancy

94.00%

Year built

1993

Building area Gross

57,735 m²

NOI

₫138,218,851,000

Media

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