Living / Multi-housing

Whitcomb Terrace Apartments

3944 W 77th Pl Merrillville, Indiana United States 46410-5070
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
NIY N/A

Attributes

Year Built 1981
Building Area Net
Number of units 264

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”), a licensed real estate broker is pleased to present Whitcomb Terrace Apartments, a 264-home garden-style apartment community located in Merrillville, Indiana. Originally built in 1981, the property offers spacious layouts with a mix of 1-2 bedroom layouts and brand-new community amenities and clubhouse. Whitcomb Terrace provides investors the opportunity to continue the value-add strategy through interior renovations with over 60% of units remaining. Situated 40 miles southeast of Chicago, the property is located in Merrillville, IN. Whitcomb Terrace boasts proximity to HW-30 providing convenient access to top employers, local shopping centers, Southlake Mall and more! This rare investment opportunity is available on a free and clear basis.

Investment Highlights

Verifiable Value-Add Opportunity

  • Over $330 Premiums on Renovated Units
  • ~65% of Units have Renovation Potential

Fantastic Trade-Out Story

  • 37% Trade Outs on New Leases
  • 13% on Renewals

Picture Perfect Northwest Indiana LocationImmediate

  • Access to Highways US-30 & I-65
  • 45 Minutes Southeast of Chicago

Stellar Submarket Performance

  • Zero Properties Under Construction within a 5-Mile Radius
  • 6% Average 5-Year Projected Rent Growth


Last Updated Date: 28 Oct 2022

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Last Updated Date: 28 Oct 2022

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