Willow Glen

About Willow Glen

New Construction Luxury Apartment Community in Affluent, High Growth Suburban Chicago Submarket

Best In Market Apartment Community in Path of Growth Location

• Attractive unit mix offering multiple price points, attracting diverse tenant base – ones, twos, and two bed townhomes with attached garages
• Luxury amenity package including dedicated work-from-home areas, a resort style pool with sunchairs and grilling stations, a club room equipped with a full-size kitchen, and a state-of-the-art fitness center
• Renters by choice average 23% rent wallet share for existing tenants
• Immediate access to 101,799 jobs within a 15-minute radius, including major employers like Northwestern Medicine, UPS, and Advocate Health Care
• Exceptional connectivity 3 blocks to Metra, direct highway access, and proximity to national retailers (Target, Starbucks, Lifetime Fitness) and recreational amenities

Strong Operational Upside

• Mitigated Cook County tax assessment risk in place TIF caps RE taxes for nine years at $3,800/unit
• Strong spring lease trade outs 4.3% lease trade outs on 22 renewals and new leases in April
• T-3 average operating income increased by $46,466 YoY (+9.6%), driven by a 10.5% rise in net rental income
• Significant reductions in:
  • Bad debt: $65.3% ($9,099)
  • Concessions: $74.4% ($27,002)
  • Vacancy: $27.9% ($15,525)

Continued Rent Growth Potential

• 57% of residents earn over $100K annually and 47% of tenants are aged 22–33, demonstrating demand from high-earning young professionals
• Supply/demand imbalance positions the asset to capture outsized rent growth - lack of new construction product proven by Willow Glen being the only Class A property within 3 miles through 2029 while growth in the potential tenant base is 6%
• Supply-constrained submarket surrounded by forest preserves, industrial zones, and transit infrastructure
• Despite 1,402 new units delivered over the past four years, rents grew 30.2% cumulatively while occupancy remained above 95%, underscoring sustained demand
• Opportunity for more professional Property Management to take over operations