Eagle Creek Apartments

Eagle Creek Apartments

Multifamily (Chicago – DuPage County)

The Equity Growth Opportunity:

  • Complete extensive upgrade of the exterior look of the property, and selectively improve unit interiors and constructing a club house

Comments:

  • Total revenue per unit has increased 24% since our first month of operation in August 2014 (\(843 per unit in August 2014 vs \)1,044 in August 2016) and we have only renovated 40% of the apartments.
  • Our annualized NOI figures increased 33% in our first two years of ownership (1.82 million vs. \(2.43 million). The 2017 budgeted NOI is \)2.6 million
  • We sold Eagle Creek Apartments after three years and achieved a project level IRR upon sale of 27%