BID DATE: Wednesday, July 21, 2021

100 forest place

100 Forest Place ​ ​ | ​ ​ Oak Park, IL 60301

234 Units ​ ​ | ​ ​ Built: 1986 ​ ​ | ​ 910 Avg SF

Berkadia Institutional Solutions powered by Moran​ is pleased to present an exclusive listing for the sale of ​ 100 Forest Place, a total rehab opportunity in the heart of one of the most convenient and dynamic locations in the Midwest. 100 Forest Place is a neighborhood unto itself, offering both high-rise unit and townhome unit lifestyles, designed to appeal to the majority of renters in one magnificent location. ​ The 16-story high-rise tower with unobstructed views and modern amenities blends seamlessly with the 3-story townhome buildings featuring mature landscaping and quiet neighborhood feel among a bustling urban retail location in historic and popular downtown Oak Park, Illinois. ​ ​

Completed in 1986, 100 Forest Place enjoys one of the best residential locations in suburban Chicago, offering abundant walkable retail, recreation, and entertainment options all less than 15 minutes from the Loop via Metra Commuter Rail and less than 25 minutes via CTA “L” trains. The walkable lifestyle and direct multi-modal access makes 100 Forest Place an ideal rental alternative to downtown Chicago.

THE OPPORTUNITY

100% TOTAL REHAB OPPORTUNITY

100 Forest Place is essentially untouched and awaiting a full coordinated renovation program to all units, common areas, and amenities.

Since 2009, 1,272 new luxury apartment units have been delivered within four blocks of 100 Forest in five properties. The average rent across these new properties is approximately $2,300 per unit per month and $2.70 PSF. The rent gap of over $550 per unit per month and $0.60 PSF between the 100 Forest Place Tower units and these new properties presents a clear opportunity for immediate and achievable rent growth through a total rehab program at the Property.

resort with pool, hut, and patio umbrellas

Property Summary

Units

234

Built

1986

Buildings

1 High-rise
9 Townhomes
1 Parking Garage

Stories

High-rise (16)
Townhomes (3)

Site Size

3.59 acres

Rentable SF

213,048 SF

Average Unit SF

910

Parking Total

241 Spaces

Amenities

Unit Features

  • LARGE FLOOR PLANS
  • TOWNHOME-STYLE DESIGN WITH PRIVATE ENTRY
  • PRIVATE PATIO
  • SPACIOUS WALK-IN CLOSETS*
  • VINYL PLANK HARDWOOD-STYLE FLOORING

    *Select Apartments

Community Features

  • ROOFTOP DECK WITH PANORAMIC CITY VIEWS
  • CLUBROOM WITH PANORAMIC CITY VIEWS
  • 24-HOUR FITNESS CENTE
  • PARKING GARAGE
  • CONTROLLED ACCESS

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BERKADIA INSTITUTIONAL SOLUTIONS

125 S. Wacker Drive, Suite 400
Chicago, IL 60606

Berkadia Team

Investment Advisors

PETER W. EVANS

Senior Managing Director
312.407.611
pete.evans@berkadia.com

richard g. evans

Senior Director
414.662.2472
richard.evans@berkadia.com

RALPH A. DEPASQUALE

Managing Director
312.845.8572
ralph.depasquale@berkadia.com

Mortgage Bankers

CHRIS BLECHSCHMIDT

Senior Managing Director
312.845.8592
christopher.blechschmidt@berkadia.com

emily stang

Director
312.845.8568
emily.stang@berkadia.com

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