JLL Capital Markets has closed the $95 million sale of Woodlands of Crest Hill, a 730-home apartment community located in Crest Hill, Illinois. The Chicago multi-housing market continues to be a top performer in the country due to Chicago’s diversified economy (matching that of the country) and low cost-of-living, as well as its central location and demand drivers attracting educated talent and corporate investment.
JLL represented the sellers, a fund managed by DRA Advisors and Marquette Companies.
Built in 1972, the property has undergone various renovations since 2018 with opportunities for future value-add upgrades. Woodlands of Crest Hill offers studio, one- and two-bedroom units, averaging 649 square feet and featuring updated finishes, vinyl plank flooring and ample storage. Community amenities include a resort-style pool, a sundeck, a modern clubroom and a fitness center.
Woodlands of Crest Hill is located at 1615 Arbor Lane and sits within Will County, which features top-rated schools, Lewis University, 38 million square feet of industrial development and the largest inland container port in the U.S. The community is located off of Theodore Street and is adjacent to Plainfield Road. Residents also benefit from immediate access to I-55, which boasts over 99 million square feet of industrial space. Additionally, the property is just 15 minutes to Joliet Mall, Promenade at Bolingbrook and Harrah’s Casino and is 33 miles from Downtown Chicago.
The JLL Capital Markets Investment Sales Advisory team was led by Managing Directors Kevin Girard and Mark Stern and Director Zach Kaufman.
