18134 66th CtTinley Park, IL 60477
Edenbridge Apartments
Asset ClassMultifamily
Occupancy98%
309-Unit Value Add Multifamily Opportunity in a Vibrant Suburb Just 30-Miles Southwest of Downtown Chicago
Overview
- Over $3,000,000 in Capital Improvements in the Past Three Years
- High Historical Occupancy with 98% Average Occupancy Over the Trailing 12 Months; The Occupancy is Bolstered by its Mix of Renovated Units and Senior Housing
- Approximately 100 Units have been Renovated over the Past Three Years Resulting in Nearly a 20% Per Year Return on Investment of $10,000 per Unit
- Opportunity to Continue Renovation Program of the Remaining 209 Units with Proven Upside
- High Historical Renewal Rate Exceeding 80% Averaging Over 6% Increases in Rent.
Investment Highlights
Year Built
1975
AVG SF
717
- Amenities Include a Renovated Clubhouse, Outdoor Heated Swimming Pool, Playground, Picnic Area, On-Site Laundry Facilities, and Ample Off-Street Parking
- Unit Renovations Include Luxury Vinyl Plank Flooring, Stainless Steel Appliances, Formica Countertops, Cabinet Replacements, Brushed Light Fixtures, Hardware, Blinds, and Fresh Paint
- Just Over One Mile From the Tinley Park Metra Station, Offering Convenient Access to the Chicago Loop
- Tinley Park Continues to Demonstrate Strong Fundamentals, with Healthy Rental Demand and Sustained Growth in Market Rates
- Tinley Park is Home to Over 57,000 Residents, with an Average Household Income of $128,832
- Near Major Retail Centers, Restaurants, Parks, and Nature Preserves
Photo Gallery
18134 66th CtTinley Park, IL 60477
Tinley Metra Station
Tinley Park High School
Credit Union 1 Amphitheatre
Tinley Park Public Library
Tinley Park Convention Center
Jewel Osco & Cracker Barrel
Interstate 80 & Route 43
Exclusively Listed By
Scott D. HarrisSenior Managing Director Investments
License #: WI 15869-090, IL 475139778, IN RB14049474
(630) 570-2220scott.harris@marcusmillichap.comRyan D. EngleSenior Managing Director Investments
License #: IL 475143971
(773) 317-7771ryan.engle@marcusmillichap.comAndrean AngelovSenior Managing Director Investments
License #: IL 475152025
(847) 212-5328andrean.angelov@marcusmillichap.com
Listing provided by Revere CRE