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NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Attributes

Year Built 1977
Building Area
Number of units 448

Property Description

JLL is pleased to present The Clayson, an award-winning 448-unit, garden-style apartment community nestled in picturesque Palatine, IL, a Northwest suburb of Chicago. The community’s strategic location provides convenient access to several Fortune 1000 companies and large employment centers, premier shopping venues including Deer Park Mall, and numerous lively entertainment and dining options. 


The Clayson 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 boasts a robust array of vibrant community amenities, including a recently renovated clubhouse, state-of-the-art fitness center, and resort style pool, while offering residents modern one, two, and three-bedroom apartment homes.

Investment Highlights

Significant Income Upside

  • 87% of units available for renovation
  • Only 13% post-renovated rent-to-income ratio
  • ~$250 average achieved renovation premium
  • 12%+ average rent Increase on new leases in 2021

Sought-After Features

  • In-demand community amenities
  • Large average unit size of 924 sf
  • Patio or balcony in every unit

Significant Capital Investment

  • $9M invested in capital improvements
  • Complete clubhouse & fitness center renovation
  • Common area improvements
  • Landscaping enhancements
  • Infrastructure upgrades

Ideal Investment Criteria

  • 97% occupancy
  • Suburban outperformance
  • Provides immediate scale
  • Available all-cash with favorable financing options

Premier Location

  • Immediate access to top employers
  • Excellent area amenities
  • Transit-oriented location
  • #10 best school district in Illinois

Strong Submarket Fundamentals

  • ~95% 5-year projected average occupancy
  • Over 1:1 5-year absorption
  • Only 1 property delivered within 3-miles since 1990
Last Updated Date: 01 Jul 2021
Kevin Girard
Kevin Girard
Senior Director, Capital Markets
License details
IL-475.17469
Marty O'Connell
Marty O'Connell
Senior Managing Director, Capital Markets
License details
IL-475.099044 KY-68521

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Last Updated Date: 01 Jul 2021

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