Multifamily
Edenbridge Apartments
18134 66th Ct, Tinley Park, IL 60477
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap has been selected to exclusively market Edenbridge Apartments, a 309-unit multifamily property located at 18134 66th Court in Tinley Park, Illinois, a vibrant suburb just 30 miles southwest of downtown Chicago. Edenbridge Apartments consists of 14 buildings, with 186 units designated for independent senior living, for active residents aged 62 and older, and 96 units that have been recently renovated. Residents enjoy a wide range of amenities including a modernized clubhouse, outdoor heated swimming pool, picnic area, playground, on-site laundry facilities, and ample off-street parking.
Tinley Park is known for its welcoming community, charming downtown district, and the renowned Credit
Union 1 Amphitheater, one of the Chicago area’s premier outdoor concert venues. The property is just
over one mile from the Tinley Park Metra station, offering direct access to the Chicago Loop via a frequent
commuter rail schedule. Midway International Airport is just 22 miles north, providing convenient national and international travel options. Edenbridge Apartments is ideally positioned near Interstate 80 and Route 43, placing residents within reach of retail and dining options at Brookside Marketplace, which includes Target, Kohl’s, Best Buy, Panera Bread, and more. The surrounding area is rich in green space, with numerous parks, golf courses, forest preserves, and nature trails enhancing the suburban lifestyle.
This investment offers an investor the opportunity to acquire a partially renovated asset with a senior living component in a high-demand submarket of the greater Chicago area. With strong rental demand, value-add potential, and connectivity to one of the nation’s largest metropolitan centers, Edenbridge Apartments is well-positioned for long-term growth.
Edenbridge Apartments
Investment Highlights
- High Historical Occupancy with 98% Average Occupancy Over the Trailing 12 Months; The Occupancy is Bolstered by its Mix of Renovated Units and Senior Housing
- Approximately 100 Units have been Renovated over the Past Three Years Resulting in Nearly a 20% Per Year Return on Investment of $10,000 per Unit
- Edenbridge Apartments Benefits From High Historical Renewal Rate Exceeding 80% Averaging Over 6% Increases in Rent
- Just Over One Mile From the Tinley Park Metra Station, Offering Convenient Access to the Chicago Loop
- Tinley Park Continues to Demonstrate Strong Fundamentals, with Healthy Rental Demand and Sustained Growth in Market Rates
- Amenities Include a Renovated Clubhouse, Outdoor Heated Swimming Pool, Playground, Picnic Area, On-Site Laundry Facilities, and Ample Off-Street Parking
- Tinley Park is Home to Over 57,000 Residents, with an Average Household Income of $128,832
- Near Major Retail Centers, Restaurants, Parks, and Nature Preserves, Edenbridge Apartments is Well-Positioned in a Welcoming and Community-Oriented Suburb of Chicago
Listing Price: Request For Offer
Investment Highlights
- High Historical Occupancy with 98% Average Occupancy Over the Trailing 12 Months; The Occupancy is Bolstered by its Mix of Renovated Units and Senior Housing
- Approximately 100 Units have been Renovated over the Past Three Years Resulting in Nearly a 20% Per Year Return on Investment of $10,000 per Unit
- Edenbridge Apartments Benefits From High Historical Renewal Rate Exceeding 80% Averaging Over 6% Increases in Rent
- Just Over One Mile From the Tinley Park Metra Station, Offering Convenient Access to the Chicago Loop
- Tinley Park Continues to Demonstrate Strong Fundamentals, with Healthy Rental Demand and Sustained Growth in Market Rates
- Amenities Include a Renovated Clubhouse, Outdoor Heated Swimming Pool, Playground, Picnic Area, On-Site Laundry Facilities, and Ample Off-Street Parking
- Tinley Park is Home to Over 57,000 Residents, with an Average Household Income of $128,832
- Near Major Retail Centers, Restaurants, Parks, and Nature Preserves, Edenbridge Apartments is Well-Positioned in a Welcoming and Community-Oriented Suburb of Chicago
Investment Overview
Marcus & Millichap has been selected to exclusively market Edenbridge Apartments, a 309-unit multifamily property located at 18134 66th Court in Tinley Park, Illinois, a vibrant suburb just 30 miles southwest of downtown Chicago. Edenbridge Apartments consists of 14 buildings, with 186 units designated for independent senior living, for active residents aged 62 and older, and 96 units that have been recently renovated. Residents enjoy a wide range of amenities including a modernized clubhouse, outdoor heated swimming pool, picnic area, playground, on-site laundry facilities, and ample off-street parking. Tinley Park is known for its welcoming community, charming downtown district, and the renowned Credit Union 1 Amphitheater, one of the Chicago area’s premier outdoor concert venues. The property is just over one mile from the Tinley Park Metra station, offering direct access to the Chicago Loop via a frequent commuter rail schedule. Midway International Airport is just 22 miles north, providing convenient national and international travel options. Edenbridge Apartments is ideally positioned near Interstate 80 and Route 43, placing residents within reach of retail and dining options at Brookside Marketplace, which includes Target, Kohl’s, Best Buy, Panera Bread, and more. The surrounding area is rich in green space, with numerous parks, golf courses, forest preserves, and nature trails enhancing the suburban lifestyle. This investment offers an investor the opportunity to acquire a partially renovated asset with a senior living component in a high-demand submarket of the greater Chicago area. With strong rental demand, value-add potential, and connectivity to one of the nation’s largest metropolitan centers, Edenbridge Apartments is well-positioned for long-term growth.
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