Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A

Documents

Enter the "Deal room" for exclusive documents related to this property.

The Deal Room features confidential documents related to this property. To access the Deal Room, you will need to be logged in. If you don't have an account, please create one. More questions? Visit our FAQ.
I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1989
Building Area Net
Land Area Net ()
Number of units 272
Occupancy 95.0 %

Asset Description

JLL is pleased to present The Iroquois Club Apartments (“the Property”), a 272-unit, mid-rise apartment community nestled in picturesque Naperville, IL. The community’s strategic location provides convenient access to several top employers, premier shopping venues, and numerous lively entertainment and dining options. The property offers an investor the opportunity to continue a verifiable value-add strategy while enjoying continuous organic revenue growth with an immediate footprint in one of Chicago’s premier suburban locations. The property’s convenient location provides residents with access to top schools and an easy drive to Downtown Naperville, the Naperville Metra Train Station, I-355, I-88 and the east-west employment corridor. This rare investment opportunity is available on an all cash basis.

Investment Highlights

Significant Value-Add Upside

• 112 units unrenovated and 39 units partially renovated (56% of units have renovation upside)

• $180+ average projected renovation premium

• Only 13% rent-to-income ratio

• Effective rents 20%+ lower than the comp set

• Numerous underutilized common areas available to repurpose

• Buyer can seek approval to build 76 additional units on the NE corner of the property


Fantastic Naperville Location

• Walking distance to brand new Costco and Amazon Fresh

• Encompassed by top restaurants and retailers

• Served by top Naperville public schools (District 203)


Ideal Investment Criteria

• Phenomenal construction quality & community amenity package

• Interior corridors & heated parking garage under one roof

• Available all-cash with favorable financing options

• Suburban outperformance


Excellent Accessibility

• Easy access to I-88 & I-355

• Minutes to downtown Naperville & Metra train station

• Proximity to top CBD employers


Strong Property & Submarket Performance

• 95% historical average property occupancy

• 97.3% 5-year projected submarket occupancy

• 3.9% 5-year projected submarket rent growth

Last Updated Date: 19 Oct 2021

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

Last Updated Date: 19 Oct 2021

Do you have any questions?  Visit our FAQ page

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.