2024 Multifamily Insights: Aurora/Naperville

Aurora/Naperville's 2024 Multifamily Market Overview

As we delve into the Aurora/Naperville multifamily market for 2024, a landscape of evolving opportunities emerges for investors. Key insights reveal a slight decrease in asking rents to $1,823 and a vacancy rate adjustment, presenting a nuanced but optimistic outlook for the sector.

Market Dynamics and Opportunities

• Rental Trends: The Aurora/Naperville multifamily market experiences subtle rent adjustments, reflecting the market's responsiveness to current economic conditions.
• Vacancy Insights: A modest increase in vacancy rates indicates a moment of recalibration, offering strategic entry points for investors.
• Growth Projections: With new units slated for delivery, the market is poised for balanced growth, highlighting the steady demand for multifamily living spaces.

Investment Strategies for Success

Furthermore, navigating these market conditions requires a tactical approach:

• Market Analysis: Continuous monitoring of rent and vacancy trends will enable informed investment decisions.
• Strategic Positioning: Adapting to market shifts can uncover competitive advantages for property owners.
• Future Planning: Anticipating market demands and aligning investment strategies accordingly will be crucial for long-term success.

Engage with eXp Commercial Multifamily Brokerage

Partner with eXp Commercial Multifamily Brokerage to leverage our market expertise and strategic insights. Whether evaluating potential sales or seeking guidance on investment opportunities, our team is here to support your goals in the Aurora/Naperville multifamily market.

Take Action

• Explore In-Depth Market Insights: For a comprehensive understanding of the 2024 market forecast, request our full report.
• Get a No-Cost Valuation: Assess the potential of your investment with our expert analysis.

The Aurora/Naperville multifamily market in 2024 presents a dynamic arena for investors. By embracing strategic planning and leveraging expert insights, property owners can navigate this landscape to optimize their investment outcomes.

https://www.creconsult.net/market-trends/aurora-naperville-2024-multifamily-insights/

Fully Occupied Multifamily Property Plus Commercial Unit Joliet IL

   

  301 S Ottawa St Joliet, IL 60436

Listing Price: $450,000

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[table] Cap Rate, 9.25% Number of Units, 6 GRM, 7.51 Occupancy, 100% Price/Unit, $75000 Price/Gross SF, $102.27 Gross SF, 4400 [/table]

Download Offering Memo

Investment Highlights

• Fully-Occupied, Five-Unit Multifamily Property and Commercial Unit (Salon)
• New Roof, Electrical Service, Gas Service, Furnace, and Hot Water Tank
• Renovated Units, Exterior Paint, and Off-Street Parking Lot Replacement
• Low Property Taxes and Tenant Paid Gas Heat
• Located in Joliet, the Fourth-Largest City in Illinois
• Unit Mix of Studio, One-Bedrooms, Two-Bedroom, Three-Bedroom and a Commercial Unit

Map Overview

Investment Overview

Marcus & Millichap is proud to present to market two adjacent, fully-occupied buildings on one parcel, consisting of five multifamily units plus a commercial unit (salon). Each tenant pays separately metered gas heat; combined with low taxes and current market rents provides a healthy return for a smaller investment property.​ A number of very recent capital improvements have been completed including, but not limited to new roofs, upgraded electrical service, gas service, one of two new furnaces and hot water tanks, exterior painting, and off-street parking lot replacement.​ The unit mix consists of one studio, two one-bedrooms, one two-bedroom, one three-bedroom, and one small recently renovated commercial space occupied by a salon.​ Each unit has been partial to fully renovated, is on an annual written lease agreement, and current on their rents as of the drafting of this offering memorandum.​ The property is situated in Joliet, Illinois, approximately 30 miles southwest of Chicago.​ The property is just south of central downtown Jolie t with convenient access to public transportation, local shopping, and public services.​ Jolie t is the county seat of Will County and is the fourth-largest city in Illinois.​ The largest employers in the area include Amazon, AMITA Health Saint Joseph Medical Center, and Will County.​

 

https://www.creconsult.net/listings/fully-occupied-multifamily-property-plus-commercial-unit-joliet-il/

New Listing 10-Unit Value-Add Multifamily Property For Sale Blue Island IL

  2149-2151 W 119th St Blue Island, IL 

 SOLD!

Investment Highlights

• Fully Occupied Ten Unit Multifamily Offering
• Value-Add Investment Opportunity, Below Market Rents
• Month-to-Month Lease Offering Flexibility to Renew, Re-let, Renovate
• Off-Street Parking, Storage and Laundry Facility

Map Overview

 

Investment Overview

Marcus and Millichap is pleased to present to market this fully occupied 10-unit value-add multifamily offering in Blue Island, Illinois, a southern suburb of Chicago. The property consists of two adjacent 5-unit brick apartment buildings each containing four one-bedroom units and one two-bedroom unit. Amenities include off-street parking, storage units, and on-site laundry in each building.

Each unit has written month-to-month leases offering the flexibility to retain these tenants, renew or renovate and release at higher market rents as each unit is approximately $150 below current market rent for the area.

The property is located approximately 16 miles south of Chicago's Loop two blocks from the 119th St Metra Station, 119th Street & Vincennes Bus Stop, and two-minutes from Interstate 57.

https://www.creconsult.net/listings/new-listing-10-unit-value-add-multifamily-property-for-sale-blue-island-il/

152 Unit Multifamily Property For Sale Victorian Apartments Montgomery IL

PRICE REDUCED!

CALL FOR OFFERS DUE tuesday MAY 5TH, 2021 @ 5Pm

Victorian Apartments

  800-834 Victoria Dr. Montgomery, IL 60538

LISTING PRICE: $14,250,000  $13,950,000

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[table] Cap Rate, 6.13% Number of Units, 152 GRM, 8.05 Occupancy, 95% Price/Unit, $91776 Price/Gross SF, $130.13 Gross SF, 107200 [/table]

Download Offering Memo

Investment Highlights

• 152 Unit Suburban Multifamily Property
• 32 Studios, 72 One-Bedrooms & 48 Two-Bedrooms
• Clubhouse with Office, Laundry Facilities, Fitness Area, Outdoor Pool, and Courtyard
• Located in Montgomery Illinois | 40 Miles Southwest of Downtown Chicago
• Upgraded Kitchens and Baths
• Tenant Paid Electric Baseboard Heat
• Value-add component, upside in rents

Map Overview

Investment Overview

Marcus & Millichap is proud to present to market Victorian Apartments, a 152-unit apartment community located in west suburban Montgomery, Illinois bordering Kendall County to the South, the fastest growing county in Illinois, and the City of Aurora, IL to the East, the second-largest city in Illinois.

The subject property is approximately 40 miles southwest of downtown Chicago. Victorian Apartments consists of 16 two and three-story apartment buildings and clubhouse spread out over almost 10 acres; offering 32 large studios, 72 one-bedrooms, and 48 two-bedroom apartment homes. Community amenities include a clubhouse, an on-site management office, laundry facilities, a fitness area, an outdoor pool, a central courtyard area with a playground, and ample off-street parking. Each unit has separately metered, tenant paid, low maintenance, electric baseboard heating, and ac sleeve units. Units have updated kitchens and baths.

 

https://www.creconsult.net/listings/152-unit-multifamily-property-for-sale-victorian-apartments-montgomery-il/

Multifamily Property Sales in Naperville and Aurora | eXp Commercial

Maximizing Your Success in Multifamily Property Sales in Naperville and Aurora

Introduction

Achieve unparalleled success in multifamily property sales in Naperville and Aurora with the strategic expertise of Randolph Taylor and the eXp Commercial team. Our dedicated approach ensures your property stands out in the competitive market. Discover innovative sales strategies on eXp Commercial's website and see how we can elevate your property's profile.

Why eXp Commercial is Your Ideal Partner

Tailored Expertise for the Naperville and Aurora Markets Randolph Taylor brings unparalleled insights into the multifamily property landscape of Naperville and Aurora. Leveraging his extensive experience, we position your property for maximum exposure and optimal sales outcomes. Dive deeper into our market analysis techniques here.

Comprehensive Marketing Strategies At eXp Commercial, we don't just list your property; we launch it. Our comprehensive marketing strategies ensure your listing reaches a wide, qualified audience. From digital marketing to traditional advertising, we cover all bases. Learn about our unique approach here.

The eXp Commercial Advantage

Our commitment to your success is unmatched. Partnering with us means gaining access to cutting-edge tools, detailed market insights, and a team that's dedicated to achieving the best possible outcome for your multifamily property sale in Naperville and Aurora.

Conclusion

Don't leave your multifamily property sale in Naperville and Aurora to chance. Let Randolph Taylor and the eXp Commercial team guide you to success. Our expertise, tailored strategies, and unwavering dedication are the keys to unlocking your property's potential.

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Maximize Returns with Top Aurora & Naperville Multifamily Brokers

Maximize Returns with Top Aurora & Naperville Multifamily Brokers

The multifamily real estate market in Aurora and Naperville presents unique opportunities for property owners. Our latest report, crafted by distinguished Aurora and Naperville apartment building brokers, offers essential insights for those looking to navigate this competitive landscape.

What you'll discover:

• Rent Trends: How does your property compare in the current market?
• Vacancy Insights: What the latest figures mean for your strategy.
• Market Growth: Identifying Opportunities Amidst the Competition.

As trusted brokers specializing in the Aurora and Naperville multifamily markets, we bring unmatched expertise to the table. Our analysis is tailored for owners ready to maximize their investment through strategic listing and selling.

Why download our report?
Gain a competitive edge with our in-depth analysis and make informed decisions that could significantly impact your property's market performance.

Call to Action:
Don't miss out on leveraging your multifamily property's full potential. Download our comprehensive Aurora and Naperville market report today.

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Cost Set Deadline

Cost Segregation Deadlines: Tax Year 2023
A reminder to our clients with acquisitions in 2023 or who have made improvements to their property in 2023: you can benefit from a Cost Segregation Study to substantially increase your tax deductions.
The deadline for this with our national partners is 2/29/2024.
Please contact us to make a request before it is too late!
https://www.creconsult.net/partners/