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6533 West Palmer StreetGalewood, IL 60707
North Oak Lofts
Asset ClassMultifamily
237-Home Condo-Quality Luxury Apartment Opportunity Located in Chicago's Galewood neighborhood
overview of deal

Overview

Jones Lang LaSalle Americas, Inc. (“JLL”), a licensed real estate broker, is pleased to present North Oak Lofts, a 237-unit residence in the Galewood neighborhood of Chicago. Galewood offers residents a suburban lifestyle right outside the city of Chicago. The transit-oriented location is 12-miles from downtown Chicago, 10 miles from O’Hare International Airport and within a 5-minute walk from both the Galewood and Mars Metra stops, creating easy access to commuter rail destinations. The Property is within walking distance of Shriners Children’s Hospital, and a 5-minute drive to Jewel-Osco, Lowe’s, and Target. With convenient shopping, entertainment, and transportation nearby, Galewood has become a popular neighborhood for young professionals and families alike.

 

North Oak Lofts offers investors the unique opportunity to acquire a luxury, multifamily property that resembles a single family, built to rent community. The Property offers a selection of boutique walk-up buildings with spacious 2, 3, and 4-bedroom apartments. The open floor plans maximize living and entertaining space and feature elegant interior finishes. North Oak Lofts includes desirable amenities, including a community center with full–service kitchen and outdoor dining and grilling stations, large fitness center, sports field, and playground as well as a fenced dog run. This unbeatable opportunity is available free and clear.

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Investment Highlights

Excellent Design & Amenities

  • Thoughtful Interior Design with High-End Finishes, 9-Foot Ceilings and Modern Features
  • Large Floor Plans Designed with Style and Functionality (1,289 Avg. SF)
  • Full Stainless-Steel Kitchen Appliance Suite
  • Gated Community with Upscale Amenities Package

Transit-Oriented Location

  • A- Overall Grade (Niche.com)
  • Easy Access to I-90 and I-290 and O’Hare International Airport
  • Proximate to Bricktown Square Mall including Jewel-Osco, Home Depot, Lowe’s, Target, and Aldi
  • 5 Minute Walk to Galewood & Mars Metra Stations

One-of-a-Kind-Asset

  • Resembles SF Built-to-Rent: Spacious Units, Semi-Private Entrances, Community Setting
  • Newest Multifamily Community in a One Mile Radius
  • Available at a Significant Discount to Replacement Cost
  • Centrally positioned and convenient to the three largest employment centers in the metropolitan area - Chicago CBD, Rosemont/O’Hare, and Oakbrook/Downers Grove

Strong Submarket Performance

  • ~3.4% Projected 3-Yr Effective Rent Growth
  • 95%+ 5-Year Projected Average Occupancy
  • Muted Future Supply Pipeline
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deal gallery image
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6533 West Palmer StreetGalewood, IL 60707

Investment Sales

Bill BaumannManaging Director 312.560.7447bill.baumann@jll.com
David GainesManaging Director 847.340.3171david.gaines@jll.com
Philip GalliganDirector 312.980.3604philip.galligan@jll.com
Lucas Borges Senior Director 312.300.7303lucas.borges@jll.com

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Listing provided by Revere CRE