Attractive HUD Loan – 3.31% Note Rate + 0.25% MIP

99% Occupied & 100% Leased

Strategic Location 

  • 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

Booming Submarket

  • 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

Executive Summary

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.

 

The 99% occupied community offers a variety of spacious layouts ranging from one-bedroom to two-bedroom homes, all with private balconies or patios. The property sets the standard for attention to detail and luxury living, offering residents a truly unparalleled living experience with 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).

Property Photographs

For More Information Please Contact

Kevin Girard

Senior Director

773-263-3890

kevin.girard@jll.com 

Zach Kaufman

Director

847-830-8883

zach.kaufman@jll.com 

Mark Stern

Managing Director

312-622-8140

mark.stern@jll.com 

Avi Schiffman

Analyst

312-957-4981

avi.schiffman@jll.com 

​​​​​​​Although information has been obtained from sources deemed reliable, neither Owner nor JLL makes any guarantees, warranties or representations, express or implied, as to the completeness or accuracy as to the information contained herein. Any projections, opinions, assumptions or estimates used are for example only. There may be differences between projected and actual results, and those differences may be material. The Property may be withdrawn without notice. Neither Owner nor JLL accepts any liability for any loss or damage suffered by any party resulting from reliance on this information. If the recipient of this information has signed a confidentiality agreement regarding this matter, this information is subject to the terms of that agreement. ©2021 Jones Lang LaSalle IP, Inc. All rights reserved.