773-263-3890
1615 Arbor Ln, Crest Hill, IL for Sale
Apartments - FOR SALE
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1615 Arbor Ln
Crest Hill, IL 60403


HIGHLIGHTS

  • 95% occupied with consistent historical performance and 8%+ lease trade-out growth
  • $7.2M+ in renovations completed; 33% of units remain primed for value-add upgrades
  • Resort-style amenities including pool, fitness center, clubhouse, and dog park
  • Located in Will County, home to the largest inland container port in the U.S.
  • Immediate access to I-55 and major employment hubs including Amazon and WeatherTech
  • Zoned for “A” rated public schools and near top institutions like Lewis University

OVERVIEW

Woodlands of Crest Hill presents a compelling value-add multifamily investment opportunity in one of Chicagoland’s most dynamic suburban growth corridors. Located just off Theodore Street and Plainfield Road in Crest Hill, this 730-unit community is 95% occupied and offers a proven track record of strong performance, with 8.3% growth on new leases and 8.5% on renewals. The property features a diverse unit mix, from efficient studios to spacious two-bedroom layouts, and has undergone over $7.2 million in renovations since 2018. Approximately 67% of units have been upgraded to R2 or R4 standards, with the remaining 33% offering immediate upside through further renovations. Current ownership is achieving $204 rent premiums on fully renovated units, with a targeted $12,000 per unit investment. Residents enjoy a full suite of lifestyle amenities including a redesigned clubhouse, resort-style pool and sundeck, fitness center, dog park, and Luxer package room. The community is adjacent to Crest Hill Community Park and within minutes of major retailers, restaurants, and entertainment venues. Strategically positioned near I-55 and the 99M+ SF industrial corridor, Woodlands benefits from proximity to major employers such as Amazon, Wayfair, and WeatherTech. Crest Hill’s strong fundamentals—3.2% YoY rent growth, 96.5% projected 5-year occupancy, and no new construction within a 3-mile radius—further enhance the long-term investment outlook.

FOR SALE DETAILS

PRICE

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# OF UNITS

730

CAP RATE

Request Cap Rate

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Woodlands of Crest Hill Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1972

PARKING SPACES

1073

LAND DETAILS

LAND ACRES

26.65 AC

LAND SF

1,160,874 SF

ZONING

R-3

APN/PARCEL ID

11-04-32-307-008

ASK ABOUT THIS PROPERTY

773-263-3890

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773-263-3890

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