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Woodlands of Crest Hill Apartments 1615 Arbor Ln 730 Unit Apartment Building For Sale Crest Hill, IL 60403
INVESTMENT HIGHLIGHTS
- 95% occupied with consistent historical performance and 8%+ lease trade-out growth
- Resort-style amenities including pool, fitness center, clubhouse, and dog park
- Immediate access to I-55 and major employment hubs including Amazon and WeatherTech
- $7.2M+ in renovations completed; 33% of units remain primed for value-add upgrades
- Located in Will County, home to the largest inland container port in the U.S.
- Zoned for “A” rated public schools and near top institutions like Lewis University
EXECUTIVE SUMMARY
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.
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.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 26.65 AC |
| No. Units | 730 | Building Size | 473,524 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built/Renovated | 1972/2019 |
| Building Class | B | Parking Ratio | 1.47/1,000 SF |
| Zoning | R-3 - Single-Family Residential District | ||
| Sale Type | Investment |
| No. Units | 730 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 26.65 AC |
| Building Size | 473,524 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built/Renovated | 1972/2019 |
| Parking Ratio | 1.47/1,000 SF |
| Zoning | R-3 - Single-Family Residential District |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Ceiling Fans
- High Speed Internet Access
- Range
- Walk-In Closets
- Window Coverings
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Clubhouse
- Fitness Center
- Laundry Facilities
- Playground
- Property Manager on Site
- Grill
- Package Service
- Pet Play Area
- Maintenance on site
- Sundeck
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 64 | - | 374 |
| 1+1 | 444 | - | 598 - 874 |
| 2+1 | 204 | - | 816 |
| 2+1.5 | 18 | - | 874 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $5,234,983 | |
| Land Assessment | $1,116,923 | Total Assessment | $6,351,906 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,116,923
Improvements Assessment
$5,234,983
Total Assessment
$6,351,906
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Woodlands of Crest Hill Apartments | 1615 Arbor Ln
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