Willow Crossing

1031 Charlela Lane


Elk Grove Village, IL

Main

Year Built: 1977

Status: Available

Offers Due: August 22, 2017








Property Type

Multifamily Value-Add

Location

Elk Grove Village

Units

579

Willow Crossing


Willow Crossing Apartments is the suburban opportunity that literally offers it all. This is a _**large-scale asset**_, prime for a _value-add_ program located in a powerful suburb with **award-winning**, innovative schools. Sounds perfect already, but there’s more. The daytime population in Elk Grove Village swells three times as people come in from surrounding suburbs to go to work in the **numerous businesses** that have relocated or expanded in the area. Elk Grove Village is also home to _**the largest industrial park**_ in North America. The largest. With access to I-290, Metra train lines and easy access to O’Hare International Airport, it makes sense that this suburban market has seen **rent growth** of almost _18%_ over the last five years. Willow Crossing Apartments has experienced its own organic **rent growth** of _15%_ during their four-year ownership. There are so many ways to improve upon this already _**stellar investment**_. Meeting prospective resident expectations with stone countertops, stainless steel appliances will turn heads. Revamping and repositioning current common areas and amenities will ensure resident retention. Being one of the only assets in the submarket with _three-bedroom_ apartments doesn’t hurt either. Any way you look at it, Willow Crossing will surely continue its already _**proven success**_ and provide **excellent yields** for new ownership.

Quick Facts:


* 579 Units * Built in 1977-1981 * Generation 1.0 upgrades in 2011 * Generation 2.0 upgrades in 2014 * 841 sf average unit size * $1,182 average market rent * $1.41 average rent per sf * 15% rent growth over past 4 years

Asset Photos



Contact Sales Team



Todd Stofflet


Managing Partner

Todd Stofflet
Phone: 312.477.7004
Mobile: 312.622.2339
Email: todd@kigcre.com

Jason Stevens


Senior Director - Sales

Jason Stevens
Phone: 312.477.7012
Mobile: 312.608.6188
Email: jason@kigcre.com

Marissa Pellegrini


Director - Sales

Marissa Pellegrini
Phone: 312.477.7020
Mobile: 603.493.6303
Email: marissa@kigcre.com

Susan Tjarksen


Principal, Managing Broker

Susan Tjarksen
Phone: 312.477.7006
Mobile: 312.523.7617
Email: susan@kigcre.com