Location: Roselle, IL
Apartment Units: 216
Axiom Properties has successfully negotiated the purchase of The Moorings Apartments, a 216 unit multifamily apartment community in Roselle, Illinois. Built in 1976, the property is well located in a quiet area of a bustling suburb of Chicago. The property landscape was designed with a nautical theme of ponds, waterfalls, and boardwalks with thick rope railings. The Moorings is a value-add opportunity located in an affluent market. The opportunity to reposition the property by modernizing the original kitchens and baths, upgrading building exteriors and grounds, and enhancing the overall image through a name change and proper management techniques make this investment attractive in today’s market. The upgrades will modernize the asset which will enhance demand and drive rental growth.