Skip to main content

Multifamily

The Oakridge Apartments

2700 W Willowlake Dr, Peoria, IL 61614

Listing Price: $4,400,000

Cap Rate
7.52%
Number of Units
48
GRM
6.36
Occupancy
95.0%
Price/Unit
$91,667
Price/Gross SF
$79.06
Gross SF
55,656

Investment Overview

Marcus & Millichap is pleased to offer the Oakridge Apartments, a 48-unit property situated in the northern district of Peoria, Illinois. Nestled on 4.36 acres of land, this well-maintained complex offers a favorable unit mix of six one bedroom, eighteen two-bedroom two-bath, and twenty-four three-bedroom two-bath apartments. Unit features include high ceilings, walk-in closets, generous living room, dining area, and ample storage spaces. The kitchens include a full island equipped with an electric range and premium appliances, elegant light fixtures, and select units offering washer/dryer hookups. Additional amenities such as on-site laundry facilities, assigned enclosed garage spaces, and deck balconies or patios enhance the appeal of these apartments.

Oakridge, located minutes from Allen Road and major highways like Interstate 74 and Illinois Route 6, offers seamless access to Northwoods Mall, The Shoppes at Grand Prairie, the natural beauty of Wildlife Prairie Park, and the vibrant downtown Peoria scene. Proximity to Bradley University, major Caterpillar sites, and key hospitals like OSF, Methodist, and Proctor underscores the convenience. Additionally, residing within the esteemed Dunlap Community School District 373 ensures access to top-tier education, with exclusive private and public schools in Peoria and Dunlap also within reach, making Oakridge an ideal blend of comfort, convenience, and community.

Peoria, located in central Illinois, boasts a population of 402,391 (MSA), diverse economy, cultural vibrancy, robust rental market, and esteemed educational institutions such as Bradley University. Strategically located with a major Port on the Illinois river and equidistant to Chicago and St. Louis, Peoria is home to many industries, most notably traditional manufacturing, and agricultural trade. Formerly based in Peoria, Caterpillar, a leading heavy equipment manufacturer, continues to maintain a significant presence in this market, employing 12,000 people. The company holds a prominent position as one of the 30 constituents of the Dow Jones Industrial Average and is listed among the Fortune 100 companies.

Investment Highlights

  • 48 Spacious Condo Quality Units
  • 1990 & 2013 Construction
  • Washer/Dryer Hookups Available in 2 Bedroom and 3 Bedroom units
  • Enclosed Garage Spaces

Exclusively Listed By

  • David B. Tarnoff

    Senior Vice President Investments

    (312) 624-7017

    Email David

    License(s): IL: 471.009921, WI: 50698-94, IN: RB14050851

    Chicago Downtown

  • Patrick Suffield

    Senior Associate

    (312) 327-5419

    Email Patrick

    License(s): IL: 475.179485, MI: 6501424960, WI: 98170-94

    Chicago Downtown

  • Yianni Mouflouzelis

    Associate

    (312) 624-7074

    Email Yianni

    License(s): IL: 475.205207, MI: 6501455825

    Chicago Downtown

Multifamily

The Oakridge Apartments

Listing Price: $4,400,000

Cap Rate
7.52%
Number of Units
48
GRM
6.36
Occupancy
95.0%
Price/Unit
$91,667
Price/Gross SF
$79.06
Gross SF
55,656

Investment Highlights

  • 48 Spacious Condo Quality Units
  • 1990 & 2013 Construction
  • Washer/Dryer Hookups Available in 2 Bedroom and 3 Bedroom units
  • Enclosed Garage Spaces

Investment Overview

Marcus & Millichap is pleased to offer the Oakridge Apartments, a 48-unit property situated in the northern district of Peoria, Illinois. Nestled on 4.36 acres of land, this well-maintained complex offers a favorable unit mix of six one bedroom, eighteen two-bedroom two-bath, and twenty-four three-bedroom two-bath apartments. Unit features include high ceilings, walk-in closets, generous living room, dining area, and ample storage spaces. The kitchens include a full island equipped with an electric range and premium appliances, elegant light fixtures, and select units offering washer/dryer hookups. Additional amenities such as on-site laundry facilities, assigned enclosed garage spaces, and deck balconies or patios enhance the appeal of these apartments. Oakridge, located minutes from Allen Road and major highways like Interstate 74 and Illinois Route 6, offers seamless access to Northwoods Mall, The Shoppes at Grand Prairie, the natural beauty of Wildlife Prairie Park, and the vibrant downtown Peoria scene. Proximity to Bradley University, major Caterpillar sites, and key hospitals like OSF, Methodist, and Proctor underscores the convenience. Additionally, residing within the esteemed Dunlap Community School District 373 ensures access to top-tier education, with exclusive private and public schools in Peoria and Dunlap also within reach, making Oakridge an ideal blend of comfort, convenience, and community. Peoria, located in central Illinois, boasts a population of 402,391 (MSA), diverse economy, cultural vibrancy, robust rental market, and esteemed educational institutions such as Bradley University. Strategically located with a major Port on the Illinois river and equidistant to Chicago and St. Louis, Peoria is home to many industries, most notably traditional manufacturing, and agricultural trade. Formerly based in Peoria, Caterpillar, a leading heavy equipment manufacturer, continues to maintain a significant presence in this market, employing 12,000 people. The company holds a prominent position as one of the 30 constituents of the Dow Jones Industrial Average and is listed among the Fortune 100 companies.

Exclusively Listed By

  • David B. Tarnoff

    Senior Vice President Investments

    (312) 624-7017

    Email David

    License(s): IL: 471.009921, WI: 50698-94, IN: RB14050851

    Chicago Downtown

  • Patrick Suffield

    Senior Associate

    (312) 327-5419

    Email Patrick

    License(s): IL: 475.179485, MI: 6501424960, WI: 98170-94

    Chicago Downtown

  • Yianni Mouflouzelis

    Associate

    (312) 624-7074

    Email Yianni

    License(s): IL: 475.205207, MI: 6501455825

    Chicago Downtown

MM Texture Background
MM Textured Background Lower