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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
CONTACT Info
mortgage banking
investment highlights
736
AVG UNIT SIZE
400
UNITS
1978
year built
overview
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PETE EVANS
Senior Managing Director 847.226.0836 | pete.evans@berkadia.com
richard evans
Senior Director
773.991.3321 | richard.evans@berkadia.com
INVESTMENT SALES
Back to TOp
EXCEPTIONAL DEMOGRAPHIC DRIVES RENTS HERE:
Stellar Submarket Rent Growth: 5% | 5X U.S. Average ( March 2025 )
98% Occupancy | March 2025 ( 1-mile Foxboro )
$162,420: Average Household Income ( 5-miles )
75% White Collar Workers ( 5 miles )
Renters Stay Put Here: 8 Years | Avg. Residency ( 2 miles )
Rent Wallet Share: ONLY 26% | Home-Owning Wallet Share: 38.7% — #6 LOWEST RENT WALLET SHARE OF CHICAGO’S MAJOR SUBMARKETS
$454,375: Median Home Value ( 5 miles )
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125 South Wacker Drive, Suite 400
Chicago, IL 60606
Phone: 312.845.8500
Chicago Office
PAUL MATUSIAK
Senior Managing Director 708.203.6591 | paul.matusiak@berkadia.com
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THE CONSTRUCTION IS THE DIFFERENTIATOR
mission-rich value-add
+ 246 UNITS OF UPSIDE | 16% ROC | $220 AVG. PREMIUM
the market
“ SINCE 2020 Q3, THE DES PLAINES / ARLINGTON HTS CORRIDOR MULTIFAMILY SUBMARKET HAS BEEN ON A VIRTUAL OVER-ABSORPTION STREAK, WHERE MOST QUARTERS REGISTERED MORE MOVE-INS THAN MOVE-OUTS. THIS SUBMARKET’S DEMAND DRIVERS — LIKE PROXIMITY TO O’HARE, MAJOR HIGHWAYS AND COMMUTER LINES, AND A DEEP WELL OF RETAIL OFFERINGS — ATTRACT RENTERS HERE IN DROVES. ”
:: COSTAR 2025 ::
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WHEELING’S COMPELLING PLACEMAKING: TOP-TIER SUBURBAN CHICAGO:
Enclave Meets Access: I-294 | IL-53 | Milwaukee Avenue | 2 Miles to Metra
Home of Famed “Restaurant Row,” Chicago Executive Airport, $33.5M Heritage Park + Sports Complex, $110M Wheeling Town Center
Economic Epicenter: — One of Nation’s Highest Concentrations of Fortune 500 + 1000 Companies — 850 Businesses | 17M SF of Commercial Space | 20 Shopping Centers
Minutes to HQs of Baxter, Walgreens, Discover, Zebra, Grainger, Abbott
FOXBORO’S MULTIFACETED PLATFORM — THE CONSTRUCTION IS THE DIFFERENTIATOR:
70s Vintage in Exceptional Condition — ALL Concrete Flexicore
Nearly $5 MILLION in Recent Capital Improvements (2020 — 2024) — New Balconies | Extensive Unit Upgrades | Exterior Paint | Leasing Center + Clubhouse Renovation | Electrical Panel Replacement | Ample New Amenities
IMMENSE VALUE-ADD OPPORTUNITY: — 246 Classic Units — Broad Optionality: Scalable / Programmatic / Continuation / Creative
Strong Lease Trade-Outs (Since January 1, 2025) — 33 New Leases: + 5.2% | $82 Increase — 48 Renewals: + 5.5% | $81 Increase
Renters Love Foxboro: 4.9 STARS @ Apartments.com
michael slovitt
Managing Director 312.636.5322 | michael.slovitt@berkadia.com
