the retreat at seven bridges

THE RETREAT
AT SEVEN BRIDGES
DUPAGE COUNTY
LUXURY APARTMENTS
VALUE-ADD
Located in Affluent DuPage County
Within 10 miles of 400,000 Jobs
Attached Garages, Elevators,
Clubhouse, and 252 Luxury
Apartment Homes on 13 Acres
Overlooking Seven Bridges Golf Club
Compelling Value-Add Opportunity
Focusing on Unit Interior Upgrades
CHICAGO CBD
137 Million SF of Office Space
500,000 Jobs
OAKBROOK CENTER
83
ADVOCATE GOOD
SAMARITAN HOSPITAL
OG DE N AV EN UE
BELMONT DOWNERS GROVE
METRA
NORTH HIGH SCHOOL
34
O TO AUR ORA
BNS F LIN E - CHI CAG
FAIRVIEW
AVENUE
DOWNERS
GROVE
83
METRA
T
METRA
T
T
MIDWAY AIRPORT
DOWNERS GROVE
Harmony
Park
DOWNERS GROVE
SOUTH HIGH SCHOOL
MEADOWBROOK
SHOPPING CENTER
HOB
355
SON
ROA
D
355
MEADOWVIEW
ELEMENTARY
WILLOW CREEK
ELEMENTARY
WOODRIDGE
THE RETREAT AT
SEVEN BRIDGES
GOODRICH
SCHOOL
LINC
LINCOLN
INCOLN
NCOLN
C
AVENUE
53
HOBSON RO
AD
DOUBL
LI N C O LN
E EAGL
E
AV EN U E
D R IV E
N
Moran & Company is pleased to present The Retreat at Seven Bridges (“The Retreat”), a 252-unit luxury apartment community located in Woodridge,
Illinois, in desirable DuPage County. Built in 1996, The Retreat is located on over 13 acres of well-landscaped grounds adjacent to the Seven Bridges
Golf Club and the East Branch of the DuPage River. The Retreat is within walking distance of Main Street at Seven Bridges with over 400,000 SF of
retail and office space including a movie theater, fitness center, ice arena, and numerous bars and restaurants.
Property Summary
Location
Unit Mix
6690 Double Eagle Drive
Woodridge, Illinois 60617
County
DuPage
Site Size
13.19 acres
Year Built
1996
Buildings
10 Residential + 1 Clubhouse
Stories
3
Unit Count
252
Average Unit Size (SF)
1,060
Total Property Size (SF)
267,200
Attached Garage Spaces
Tandem Surface Spaces
p
Surface Parkingg Spaces
Total Spaces
110
110
260
480
Total Spaces Per Unit
1.90
Unit
Type
Common Area Features
#
Units
Unit
SF
Total
SF
%
Total
Studio
12
650
7,800
5%
1BD/1BA
56
850
47,600
22%
1BD/1BA DEN
16
950
15,200
7%
2BD/1BA
76
1,050
79,800
30%
2BD/2BA
48
1,175
56,400
19%
8
1,250
10,000
3%
3BD/2BA
36
1,400
50,400
14%
Totals/Avg.
252
1,060
267,200
2BD/2BA LOFT
100%
•
•
•
•
•
•
•
•
•
Elevators
Clubhouse with Great Room and WiFi
Fitness Center
Business Center
Outdoor Pool and Sundeck
Racquetball Court
Picnic Area with Barbecue Grill
Attached Garages
Community Walking Path
Unit Amenities
•
•
•
•
•
•
•
•
•
•
In-unit Washer/Dryer
Vaulted Ceilings*
Wood Burning Fireplace*
Cable-ready
Loft*
Den/study*
Golf Course & River Views*
Intrusion Alarm
Direct Access Garages*
Central Air Conditioning & Individual
Gas-fired Forced Air Heating
• Walk-in Closets
• Ceiling Fan(s)
• Private Patio or Balcony
* Select Units
RETAIL 67,251 sf
T H E R E T R E AT AT S E V E N B R I D G E S
SURROUNDING USES
MULLIGAN DRIVE
SEVEN BRIDGES
CONDOMINIUM
RESIDENCES
GOLF CLUBHOUSE
CINEMARK AT
SEVEN BRIDGES
IMAX
BOBAK’S SIGNATURE
EVENTS BANQUET HALL
AMLI AT SEVEN BRIDGES
THE RETREAT AT
SEVEN BRIDGES
OFFICE
36,000 sf
RETAIL
Starbucks
Cold Stone
Quiznos
OFFICE
16,000 sf
SEVEN BRIDGES DRIVE
Cabana Charley’s Bar & Grill
Jimmy John’s Gourmet Sandwiches
Salon Aria
ATI Physical Therapy
Seven Bridges Nail & Spa
Seven Bridges Diamond & Watch Gallery
Buffalo Wild Wings
Seven Bridges Eye Care
Seven Bridges Hearing
National Windows Siding
Robert Senior Financial Services
Wine Styles
SportClips Haircuts
Aurelio’s Pizza
Blu Ginger Sushi
Tilted Kilt
Suparossa Restaurant
Woodridge Chamber of Commerce
LIN
CO
EDWARD HEALTH & FITNESS CENTER
100,000 sf
SEVEN BRIDGES ICE ARENA
104,000 sf
LN
AV
EN
UE
CLARA’S RESTAURANT
53
OFFICE / WAREHOUSE
EAG
GAS STATION
OFFICE
OFFICE
BRIDGEVIEW BANK
DOU
BLE
TOWNHOMES
LE D
RIVE
B&M KITCHEN BATH SUPPLY
HOBSON ROAD
N
The Opportunity
The Retreat at Seven Bridges is a very desirable luxury apartment property in the heart of DuPage County
with convenient access to multiple employment centers, strong demographics, and appealing direct-access
garage parking. The DuPage County submarket has enjoyed 7.2% net effective rent growth over the past 24
months while occupancy has increased 250 basis points to 94.5% as of 2nd quarter 2012.
The Property The Retreat at Seven Bridges includes 10 three-story elevator apartment buildings with attached
garage parking and one clubhouse building with a very appealing modern resident amenity package.
The Retreat’s luxury apartment homes offer full-size washer/dryers, walk-in closets, a private balcony or
patio, and central air conditioning in all units. Direct-access garages, vaulted ceilings, and wood-burning
fireplaces are available in select units.
The clubhouse includes a great room with fireplace, gourmet kitchen, fitness center, racquetball court, locker
rooms, and business center. An outdoor pool, sundeck, and barbecue area adjacent to the community
walking path complement the stunning views overlooking the golf course and river.
Location The Retreat at Seven Bridges is located less than 2 miles from I-355, 3 miles from I-88, and
6 miles from I-55, offering convenient access to suburban Chicago’s largest employment centers. The
Naperville/I-88 Research and Development Corridor, Oak Brook, I-55 Industrial Corridor, and North Central
DuPage County employment centers with over 400,000 jobs are all located within 10 miles of The Retreat.
Convenient access to Metra commuter rail service to downtown Chicago is available within 2.5 miles of The
Retreat at Seven Bridges.
Recent Upgrades Over the past 18 months, The Retreat has received upgrades to the clubhouse, pool, and
fitness center. In addition, all building exteriors were recently painted, new flooring has been installed in the
common area hallways, and all parking lots and driveways have been re-sealed. Additional recent capital
expenditures will allow potential investors to focus on unit interior upgrades.
Value-Add The Retreat at Seven Bridges is a most compelling value-add investment opportunity because
the vast majority of value-add capital can be spent directly on revenue-generating unit interior upgrades.
The Property’s value-add opportunity is further supported by its irreplaceable location with stunning golf
course and river views plus walkable retail including multiple restaurants, an IMAX movie theatre, fitness
center, and an indoor ice arena. Premium unit finishes such as granite countertops, modern lighting, and
upgraded flooring would further differentiate it from the competition, and position the Property to increase
rents further.
MORAN & COMPANY
Fox Riv
eS
290
tre
et
83
O’Hare
International
Airport
20
er
Army Trail Road
59
31
Bloomingdale
53
25
38
Winfield
Fermi
National
Accelerator
Laboratory
Batavia
Aurora
CityGate Centre/
Calamos Investments
Butterfield Center for
Business & Industry
& Butterfield East
56
Chicago Premium
Outlet Mall
88
Nicor Gas
Nalco Holdings
Westin Ridge
T
University
xR
iver
Walter
Payton’s
Roundhouse
Montgomery
Fo
Farnsworth Avenue
Chicago-Aurora
Municipal
Airport Aurora
North Aurora Rd. Industrial Park
T
Westell Technologies
Meridian Office
Campus
Aurora
Westfield
Fox Valley Mall
e
nu
ve
nA
e
gd
O
34
34
Tellabs
Benedictine
University
CHICAGO
1
2
DALLAS
Downers
Grove
Bolingbrook
5
I-5
HOUSTON
THE INVITATION
Moran & Company invites you to explore this exciting investment
opportunity.
All prospective purchasers desiring complete sales
materials should sign the Confidentiality Agreement electronically
on the Property’s website or print and fax it to Tom Moran at (312)
407-6717. You will be given electronic access to the complete
sales package upon receipt of the executed agreement. A hard copy
of the Offering Memorandum can be mailed to you upon request.
Sales materials and due diligence materials will also be available
on the Moran & Company website (www.moranandco.com).
To
schedule a property tour, please call Tom Moran or Pete Evans.
No warranty or representation, expressed or implied, is made as to the accuracy or completeness of the information
contained herein. No legal obligation shall arise by reason of the distribution of this summary statement.
Brookeridge
Air Park
The Promenade
or
Bolingbrook
Adventist
rid
or
Bolingbrook
C
s
Hospital
ic
li
Bo
IRVINE
ok
ro
b
ng
Adventist
Hinsdale
Hospital
T
34
T
T
T
T
T
La Grange
Hinsdale 294
The Quarry
83
Countryside
Burr Ridge
Village Center
UPS
Mars, Inc. (in development)
Darien Town
Willow
Springs
Center
er
(in development)
Ri v
Des
55
Argonne National
Laboratory
Pla
ine
s
171
83
st
gi
Lo
T
12
83
ue
n
ve
rA
Lemont
e
rch
A
PHOENIX
MORAN
SEATTLE
& COMPANY
Thomas F. Moran
55
Everest
College
Brookhaven
Plaza
355
45
Certisaver
Distribution
Center
The
Grove
53
Corn Products International
Andrew Wireless
McDonald’s
Corporation
Oak
Brook
Westmont
75th Street
Naperville
4
DENVER
Oakbrook
Center
88
64
290
Lewis
McDonald’s
Corporation University
Main Street at
Seven Bridges
THE RETREAT AT
SEVEN BRIDGES
30
3
355
Woodridge
Edward
Hospital
Oswego
0
Elmhurst
Yorktown
Center
53
T
North
METRA
Burlington Northern Central
College
Industrial Park
59
Scale of Miles
Elmhurst
College
National University
of Health Sciences
Lisle
34
Naperville
Aurora
34
Lombard
Hub Group, Inc.
56
Acxiom
SIRVA
DePaul University
Midwestern University/
Naperville Campus
Sara Lee Chicago College of
Lucent
Wallace Computer
BP
Pharmacy
Technology
Services
34
IKON
Office Max
Armour-Eckrich
National
NIU - Naperville
T Lewis
T
Northwestern
T METRA T
University T
MOLEX
Business College
30
31
Villa
Park
Navistar
Cantera/
Exelon Energy
Diehl Rd.
25
Butterfield Rd.
83
38
College
of DuPage
20
290
Roosevelt Road
38
294
64
Glen
Ellyn
Wheaton
59
Kirk Road
Randall Road
DuPage National
Technology Park
25
355
North Avenue
Central DuPage
Hospital
Lake Street
Addison
Geneva Road
West
Chicago
Geneva
31
64
Nape
rville Road
Kautz Road
Du Page
Airport
Glendale
Heights
Carol
Stream
Winfield Rd.
64
St. Charles
56
20
Mannheim Rd.
Lak
Peter W. Evans
Chicago Office:
One North Franklin, Suite 700, Chicago, IL 60606
Phone 312-407-6700 Fax 312-407-6717
www.moranandco.com
WASHINGTON, D.C.
45
12