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10906 Seasons PlKenosha, WI 53158
Seasons at River View
Asset ClassMultifamily
Year Built2023
Square Feet: 318,112# Units: 300Parking Spaces: 746 SpacesAccess Data Room
Brand New, 300-Home Luxury Apartment Community located in the Booming I-94 Corridor between Chicago and Milwaukee
overview of deal

Overview

Jones Lang LaSalle Americas, Inc. (“JLL”), a licensed real estate broker is pleased to present Seasons at River View, a brand new, 300-home luxury apartment community located in dynamic Pleasant Prairie, a village located in Kenosha County, along the Chicago - Milwaukee corridor. Seasons offers a variety of in-demand stacked flat layouts (1,060 avg. sf) from spacious junior one-bedrooms to three-bedroom homes with private entries and dedicated garages. The no 97%+ occupied community offers above-and-beyond single-family living including flawless finishes, spacious floor plans with ample storage, and a resort-style collection of amenities and clubhouse. Demand for this exceptional community is evidenced by its rapid lease up and recent 9% renewal increases.

 

Seasons is ideally located next to top-ranked hospitals (Froedtert and Aurora Medical Center) and big box retail (Target, Costco). With easy access to the booming I-94 employment corridor, residents can work at nearby ULINE, Amazon, and Microsoft’s new $1B data center coming or commute across state lines in 10 minutes.

With an exceptional quality of living and affordability given Wisconsin’s low cost of living and lower relative tax rates, Pleasant Prairie draws residents from Milwaukee County to the north (30 min) and Chicago to the south (1 hr).

 

This amazing opportunity is available free and clear and fully qualifies for the mission driven agency financing discount.

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Investment Highlights

Best-in-Class Apartment Community

  • Stacked flat community with 1,060 SF avg. floor plans
  • Diverse unit mix covering all price points
  • Private Entries & Attached and Detached Garages
  • Luxury amenities highlighted by resort-style pool & sun deck, modern clubroom, and fitness center

Path-of-Growth Location

  • Strategic location at intersection I-94 and big box retail along 75th St (Target, Costco, and Eateries)
  • Immediate access to two hospitals/ employers—Froedtert Pleasant Prairie and Aurora Medical Center Kenosha
  • In the heart of the I-94 employment corridor —Amazon, Uline, Haribo, Niagara Bottling, Foxconn, and Microsoft Data Center (Coming Soon!)
  • 10 minutes to area economic driver, Pleasant Prairie Premium Outlets
  • Situated at north end of Chicago- Milwaukee corridor with access to the Lake County Bio-Med & Fortune 500 HQs

Booming New Luxury Rental Market

  • New deliveries are 95%+ occupied
  • 4% 5-Yr Projected Avg. Annual Rent Growth
  • 96% 5-Yr Projected Avg. Occupancy
  • No properties under construction in Kenosha County

Fantastic Investment Upside

  • Stabilized August 2023 and now 97% occupied
  • Pushing rents with 9% Trade Outs on Trailing 30 Renewal Leases and 5% on New Leases
  • Wealthy renter with $115,000 Avg. Property HHI and low 20% Rent-to-Income Ratio at the Property
  • Attainable rents qualify for potential 30 bps interest rate discount given agency financing mission driven target
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10906 Seasons PlKenosha, WI 53158
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Listing provided by Revere CRE