773-263-3890
2200 Progress Pky, Schaumburg, IL for Sale
Apartments - FOR SALE
1/36
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2200 Progress Pky
Schaumburg, IL 60173
Far Northwest Suburban Cook


HIGHLIGHTS

  • Located in Schaumburg’s Veridian District, near I-90/I-290
  • 95% average occupancy with no concessions
  • Resort-style amenities including pool, firepits, and pet parks
  • Top-tier finishes and smart home technology in every unit
  • Surrounded by major employers and retail destinations
  • Offered free and clear with strong NOI growth

OVERVIEW

Element at Veridian presents a rare opportunity to acquire a premier Class A multifamily asset in Schaumburg, one of suburban Chicago’s most dynamic and economically vibrant communities. Built in 2020, this 268-home mid-rise apartment complex offers a best-in-class living experience with expansive layouts ranging from studios to three-bedroom townhomes, each featuring white quartz countertops, stainless steel appliances, custom cabinetry, and private balconies. Residents enjoy a resort-style amenity package including a pool, firepit terrace, fitness center, gated pet parks, and rentable office suites. Strategically positioned within the Veridian mixed-use district, the property benefits from immediate access to I-90 and I-290, placing O’Hare International Airport just 20 minutes away. The surrounding area boasts top-tier public schools, including William Fremd High School, and proximity to major employers such as Motorola, Zurich, and IBM. Schaumburg’s robust economic profile—home to more businesses than any other Illinois suburb—supports long-term rent growth and occupancy stability. With consistent 95% occupancy, strong lease trade-outs exceeding 5%, and a low rent-to-income ratio of 16%, Element at Veridian demonstrates exceptional performance and upside potential. The property is part of a flourishing district poised for further expansion, including 270,000 SF of retail, 80,000 SF of office, and a new outpatient center from Lurie Children’s Hospital. This offering is available free and clear, making it an ideal acquisition for investors seeking a high-performing, future-ready multifamily asset.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

268

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Element at Veridian

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2020

PARKING SPACES

368

LAND DETAILS

LAND ACRES

13.51 AC

LAND SF

588,496 SF

ZONING

-

APN/PARCEL ID

02-34-303-003-0000

ASK ABOUT THIS PROPERTY

773-263-3890

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773-263-3890

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