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Skyline Towers is a 60-unit, boutique elevator multifamily property located in one of the fastest growing submarkets in the Midwest. Offering large floorplans and underground parking, Skyline Towers is positioned to capture demand from modern renters looking for homelike living with the convenience of renting.

Skyline Towers was developed in 2017, delivering an unmatched product in the rental market. The property is now positioned for more operationally focused ownership, taking advantage of unrealized supplemental income while continuing to ride the wave of outsized rent growth in the Kenosha submarket.

Capture Operational Upside

Improve operations by capturing nearly $50,000 of additional annual income by charging market standard fees for parking and storage.

Booming Kenosha Job Market

Over 8,000 jobs added since 2010 through major corporations such as Amazon, Uline, Kroger, Haribo, and Nexus. There is another 4.5 MSF of industrial development projected to bring 1,000 more jobs to the area.

Assumable Debt with Term

The acquisition of Skyline Towers offers attractive assumable agency debt at 4.79% maturing in September 2030. The current loan balance is in line with today’s market loan to value.

Fundamentals Poised for Strong Rent Growth

Area home values have increased 11.2% in the past year averaging $447,500, making homeownership even less attainable in today’s rising interest rate environment. Skyline Tower’s average rent is only 18.5% the average area income of $101,437. With only 133 units under construction in the submarket, the asset its poised for outsized rent growth.

Skyline Towers Apartments
60 Units
9511 81st St
Kenosha, WI  53158
Type:  Multifamily
Closed: 5/3/2024

Best Product in Vibrant Walkable Location

Promenade at Founders Square stands out as the premier offering in its vicinity, boasting top-tier finishes and luxurious amenities that elevate the living experience. The vibrant location adds to the appeal, with convenient on-site retail options and adjacency to the popular Founders Square Park.

6.4% Cap Rate with Impressive Demand

The property is being offered at a compelling 6.4% cap rate. Furthermore, the property showcases remarkable demand as it is currently 100% leased with a waitlist of prospective tenants. This signifies a high level of interest and a positive market outlook for the property.

Northwest Indiana Employment & Amenities

The Northwest Indiana region is rich with abundant employment opportunities. Residents of Promenade at Founders Square enjoy convenient access to the job market in the Chicago area as well as the employment opportunities available in northwest Indiana.

Benefits From Illinois and City Exodus

Nationally there is a migration toward the suburbs. Locally Northwestern Indiana is benefiting from a boom of new residents as people look to escape Chicago in favor of small town charms, taxes and environment.

Proximity to Chicago

Promenade at Founder's Square boasts a prime location, a mere 45-minute drive from the lively city of Chicago. Residents can effortlessly enjoy the abundant amenities, entertainment offerings, and employment opportunities that Chicago provides, all while avoiding the exorbitant costs and inconveniences of city living.

Potential to Develop 60 Additional Units

The acquisition of land adjacent to Promenade at Founder's Square presents a promising opportunity for the development of 60 additional units. Two additional parcels of land are currently available for purchase at a price of $550K. Importantly, the site is already properly zoned and prepared, streamlining the development process.

Promenade at Founders Square
304 Units
2540 Promenade Way
Portage, IN  46368
Closed: 11/30/2023
Cushman & Wakefield, Inc., as exclusive advisor, is pleased to present The Villas On Fir, a brand new, best-in-class development with 290 residences in the heart Granger, Indiana. This unique opportunity allows new ownership to own a stabilized asset with powerful tenant and market demographics with an unmatched location in greater South Bend, Indiana. The area economy is not only powered by Notre Dame University but also by a health care and manufacturing scene that is one of the top in the nation. A professional, well-educated, renter dominated population fuels the demand for new, highly amenitized apartments in a market with record low vacancies, real rent growth and minimal new construction.

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The Villas on Fir
290 Units
6205 N Fir Rd
Granger, IN  46530
Closed: 12/16/2020

The Abbey Lane is comprised of 100 one and two bedroom apartment units ranging in size from 839 sf to 1,398 sf. The property offers residents a serene setting amongst a mature wooded area and naturally meandering Coffee Creek. With amenities like a dog park, fitness center, pool, tennis court and playground, Abbey Lane is an idea place for a wide variety of residents.

Over the past 12 months, the property has undergone significant capital projects ($850,000+) including cosmetic interior upgrades to a select number of units, replacement of windows in 33 units, refreshed interior hallways as well as a minor clubhouse renovation and other deferred maintenance items (rebuilding of balconies, bridge reinforcement, etc.). The property is positioned well for the new ownership to purchase a stable, partially renovated property in an attractive location with ample opportunity to create upside.

Minutes from I-94 (to the north) and I-80 (to the south), Abbey Lane is ideally located in the heart of Indiana’s Northwest most affluent county (Porter). Access to Chicago is less than an hour’s drive or a 50-minute commute via the South Shore Line (train).

Abbey Lane
100 Units
120 Abbey Lane
Chesterton, IN  46304
Type:  Multifamily
Closed: 10/25/2019
Randall Highlands is situated in a resort-like setting is in the village of North Aurora in the Kane County suburb of Chicago. Built in 2013, this core-plus property consists of 146 two- and three-bedroom townhomes and amenities include a zero-entry pool, fully-amenitized clubhouse including fitness center, locker rooms and resident lounge. The asset is a perfect opportunity that affords a new owner the ability to impellent value enhancements both in unit and across the amenities. The submarket provides convenient access to Chicagoland’s I-88 business corridor. The corridor continues to see employment growth and serves as Chicago’s second largest employment hub outside of the downtown CBD. Rent growth in the Aurora multifamily market over the past 12 months has averaged 3% and occupancies have hovered around 95%, allowing for long term growth and strong returns.
Randall Highlands Rental Townhomes
146 Units
1241 Ritter Street
North Aurora, IL  60542
Type:  Multifamily
Closed: 9/26/2019

Park View Apartments, nestled in the quiet neighborhood surrounding Hawthorne Park in Janesville, Wisconsin is a great opportunity for steady investment.  The setting for Park View is idyllic with grand, stately oak trees and an expansive lawn area.  Typically appealing to a senior demographic, Park View has been a destination for residents seeking efficient living and access to important amenities like shopping, medical offices, hospitals and pharmacies. Tenants enjoy this asset’s boutique feel, and it shows via high retention rates and long rental tenure as a result.

This is truly a "bread and butter" opportunity for investors seeking low risk and strong returns.  This is coupled with the opportunity to convert the asset into a more "senior specific" use giving a new investor multiple executions.  In addition, current ownership has secured favorable, assumable agency financing at record-low interest rates, which allows new ownership to generate great returns immediately.

Park View Apartments
96 Units
1601 N Randall Ave.
Janesville, WI  53545
Type:  Multifamily
Closed: 5/31/2019

Nestled among a lush landscape, including sweeping willow trees and a large, peaceful pond with multiple fountains, Waterleaf Apartments sprawls across 22 acres in the popular Greentree neighborhood of Madison.  The asset is a perfect value-add opportunity that affords an owner the ability to renovate units and add amenities.  Comprising 176 one-, two- and three bedroom units, Waterleaf Apartments provides endless options to increase value.  Until recently, Waterleaf Apartments was encumbered by a LURA (Land Use Restrictive Agreement) with rent restrictions.  However, now that the building is fully unrestricted, ownership has begun to push rents on renewals and new leases.  A new investor will be able to continue this practice and implement a strategic value-add strategy that could include interior renovations and additional amenities and upgrades.  Both the submarket and Madison itself experiences srong rent growth and high occupancies.  Rent growth over the past three years has averaged 2.7% and occupancies have hovered around 95%, allowing for long term growth and strong returns.

Waterleaf Apartments
176 Units
6701-6785 Schroeder Rd.
Madison, WI  53711
Type:  Multifamily
Closed: 2/24/2019

After a decades-long development hiatus, Broad Ripple, Indianapolis, has excitedly embraced Indy's most captivating mixed-use development.  The Coil Apartments and Fresh Thyme Farmers Market are an integral addition to a submarket with extremely attractive demographics - highly educated, high-earning residents.

Current residency boasts an average age of 38 years and a powerful average income of $100,000 with an average credit score of 726.  The asset's prestige even allures out of state residents to enjoy the benefits of a growing job market and economy in central Indiana.  The Coil is commanding some of the highest rents in the market.

Adjacent to the Indiana Central Canal, in the heart of Broad Ripple Village, The Coil is walking distance from the myriad shops and restaurants in the Village. The convenient location on College Avenue also grants residents direct access to downtown Indianapolis and the Carmel business corridor.

In addition to boasting 151 luxury apartments, the asset includes a 33,500-square-foot flagship Fresh Thyme Farmers Market with a long-term lease, backed by Meijer credit.  This is a rare amenity for renters in Indianapolis.

Discerning residents have limited options in an urban-suburban setting and will continue to thrive in this asset for many years to come.

The Coil Apartments
151 Units
6349 N College Ave.
Indianapolis, IN  46220
Type:  Multifamily
Closed: 11/20/2018