Overview
Colliers Structured Finance (“Colliers”) is pleased to present a preferred equity investment opportunity with JCD Residential and REV Development (“the Sponsors”) for the development of ArkVue Channahon (“the Project”) in Channahon, Illinois, a 240-unit, Class A multifamily community strategically positioned on 12 acres at the junction of Interstates 55 and 80, just 1.5 miles from the CN Chicago Logistics Hub, one of the nation’s most active
logistics corridors.
Investment Highlights
The Sponsors are seeking $14,110,000 in preferred equity to complete the $60.5MM capitalization, alongside $8,176,499 of common/investor equity and $908,500 of Sponsor co-investment (10% of common equity). A senior construction loan term sheet has been issued by a regional bank for $37.4MM.
ArkVue is strategically positioned in the heart of America’s busiest logistics corridor and captures workforce housing demand from the region’s $32B+ industrial and data-center investment boom, including the CN Chicago Logistics Hub just 1.5 miles away, Hyundai Translead’s $450M / 2,500-job manufacturing campus in Channahon, and the approved $20B / 795-acre Joliet Technology Center data center. Within a 5-mile radius, more than 28,000 residents earn a median household income of $119,494, well above national averages. Proforma rents are projected at $1,950/unit/month ($2.17 PSF).
Let's Talk
License #: 801984
(210) 749-3689grace.larsen@colliers.com