Park Place of Wheaton | 100 W Roosevelt Rd
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Park Place of Wheaton 100 W Roosevelt Rd Bureau 2 217 m² À vendre Wheaton, IL 60189 1 448 535 € (653,36 €/m²)
Certaines informations ont été traduites automatiquement.
INFORMATIONS PRINCIPALES SUR L'INVESTISSEMENT
- City-approved PUD allowing 22-unit multifamily redevelopment (12x 1BR, 10x 2BR units)
- Rezoned from O-R to R-5 Residential with variances granted for parking, density, and setbacks
- Efficient project scope leveraging existing building shell with cost-effective interior reconfiguration
- Strategic location with excellent visibility, just minutes from downtown Wheaton and transit
- Strong apartment fundamentals in Wheaton: 95.5% occupancy and historically low development pipeline
- Surface-level utilities and separate HVAC systems already in place, reducing redevelopment complexity
RÉSUMÉ ANALYTIQUE
Located in the heart of Wheaton with direct frontage along Roosevelt Road, this property presents a compelling value-add opportunity for multifamily redevelopment. Formerly operated as a two-building office condominium complex, the site has now been approved for rezoning and a Planned Unit Development (PUD), allowing for the conversion to residential use. This rare approval enables the adaptive reuse of the existing buildings into a 22-unit rental apartment community, offering a more efficient and lower-risk path to market entry compared to ground-up development.
The approved plans call for twelve 1-bedroom and ten 2-bedroom units, supported by 38 surface parking stalls. The buildings are well-positioned on a high-visibility site with multiple points of ingress and egress and benefit from strong demographics, established neighborhood character, and proximity to retail anchors such as Mariano’s and downtown Wheaton.
The subject property is ideally situated within the Roosevelt Road Corridor—a designated redevelopment zone outlined in the City of Wheaton’s long-range planning initiative. Surrounded primarily by single-family homes, this infill site represents a rare opportunity to introduce high-demand rental housing into an undersupplied submarket. According to a recent market study, comparable low-rise communities in the area demonstrate strong occupancy (95.5%) and solid rent performance, especially for modestly scaled Class B and C apartment assets.
This offering is ideal for multifamily developers or private investors seeking to reposition a functionally obsolete office asset into a stabilized income-producing rental property with long-term upside.
This is a rare opportunity to acquire and reposition a well-located suburban asset into a boutique apartment community supported by long-term market fundamentals and municipal backing. Contact us for offering details and access to approved site plans, ordinances, and market survey documentation.
Location Description
Highly visible location along Roosevelt Road in Wheaton, IL, with access from both Roosevelt Road and Main Street. Surrounded by established single-family neighborhoods and walking distance to Rotary Park and Mariano’s.
Property Website: https://creconsult.net/park-place-wheaton-redevelopment/
The approved plans call for twelve 1-bedroom and ten 2-bedroom units, supported by 38 surface parking stalls. The buildings are well-positioned on a high-visibility site with multiple points of ingress and egress and benefit from strong demographics, established neighborhood character, and proximity to retail anchors such as Mariano’s and downtown Wheaton.
The subject property is ideally situated within the Roosevelt Road Corridor—a designated redevelopment zone outlined in the City of Wheaton’s long-range planning initiative. Surrounded primarily by single-family homes, this infill site represents a rare opportunity to introduce high-demand rental housing into an undersupplied submarket. According to a recent market study, comparable low-rise communities in the area demonstrate strong occupancy (95.5%) and solid rent performance, especially for modestly scaled Class B and C apartment assets.
This offering is ideal for multifamily developers or private investors seeking to reposition a functionally obsolete office asset into a stabilized income-producing rental property with long-term upside.
This is a rare opportunity to acquire and reposition a well-located suburban asset into a boutique apartment community supported by long-term market fundamentals and municipal backing. Contact us for offering details and access to approved site plans, ordinances, and market survey documentation.
Location Description
Highly visible location along Roosevelt Road in Wheaton, IL, with access from both Roosevelt Road and Main Street. Surrounded by established single-family neighborhoods and walking distance to Rotary Park and Mariano’s.
Property Website: https://creconsult.net/park-place-wheaton-redevelopment/
INFORMATIONS SUR L’IMMEUBLE
Type de vente
Investissement
Condition de vente
Projet de requalification
Type de bien
Bureau
Sous-type de bien
Médical
Surface de l’immeuble
2 217 m²
Classe d’immeuble
B
Année de construction
1984
Prix
1 448 535 €
Prix par m²
653,36 €
Occupation
Multi
Hauteur de l’immeuble
2 Étages
Surface type par étage
554 m²
Coefficient d’occupation des sols de l’immeuble
0,36
Surface du lot
0,61 ha
Zonage
R-5 - Bureau/Recherche
Stationnement
100 Espaces (45,11 places par 1 000 m² loué)
CARACTÉRISTIQUES
- Accès 24 h/24
- Ligne d’autobus
- Train de banlieue
- Signalisation
- Puits de lumière
- Chauffage central
- Wi-Fi
- Panneau monumental
- Climatisation
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Walk Score®
Très praticable à pied (78)
TAXES FONCIÈRES
| N° de parcelle | Évaluation des aménagements | 330 121 € | |
| Évaluation du terrain | 180 506 € | Évaluation totale | 510 627 € |
TAXES FONCIÈRES
N° de parcelle
Évaluation du terrain
180 506 €
Évaluation des aménagements
330 121 €
Évaluation totale
510 627 €
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VIDÉOS
VISITE 3D
PHOTOS
STREET VIEW
RUE
CARTE
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Park Place of Wheaton | 100 W Roosevelt Rd
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