100 Forest Park
234 Unit Multifamily | Oak Park IL
03.22
Acquisition Date
234
Multifamily Units
910
Avg SqFt.
4 Years
Target Hold Period
OUR PORTFOLIO
Recent Acquisitions
Description
100 Forest Place is a 234-unit multifamily asset located in the heart of downtown Oak Park, with grocers, pharmacies, financial institutions and over 30 restaurants within a 3-block radius. The Oak Park neighborhood provides convenient access to the entire metropolitan area via Interstate 290, positioned within 10 miles of the Chicago CBD. The asset was completed in 1986 and consists of a 16 two-story tower, 9 buildings featuring townhomes, and 7,985 SF of commercial retail space. Amenities include a rooftop deck, a 24-hour fitness center, and a clubroom with panoramic city views.
Location
100 Forest Place, Oak Park, IL 60301
Opportunity + Execution
Execution: Value Add | Deal Source: Relationship based (fully marketed)
- Leveraged local market knowledge, in-house construction management team and previous success with heavy value-add assets to acquire a well located, asset of this vintage
- The property is largely untouched with only one of their retail spaces currently leased, providing further opportunity to drive income
- Our renovation program is targeting heavy value-add to 100% of the units in a 2-year span in addition to re-amenitizing common areas and enhancing building exteriors
- Property is well positioned to capitalize on the significant demographic shifts taking place within the dynamic Chicago market
- This asset will add market diversity to the initial Texas acquisitions of Dominion Square, Montabella, Ranch at Shadow Lake, and The Heights