450 Manda Lane | Wheeling | IL 60090
264 Units | Built in 1977
Mandalane Apartments is an essential addition to the diminishing supply of rental housing affordable to the majority of renters. The reintroduction of rental units through a condominium deconversion offers an opportunity to invest in a product with accelerating demand and limited supply with onerous barriers to entry.
Mandalane offers investors the opportunity to accelerate revenue growth beyond strong projected market rent growth through interior unit upgrades to the vast majority of the Property’s units. Approximately 24% of the Property’s units have been renovated since 2018 by current ownership. Images of some of current ownership’s interior renovations, as compared to classic units, are shown below.
Mandalane’s strategic location provides convenient access to three of suburban Chicago’s premier job markets: North Suburban Office Market, I-90 Corridor/Schaumburg, and Rosemont-O’Hare. These surrounding major employment centers offer over 500,000 private sector jobs within 15 miles of the Property. All three of these dynamic employment centers are easily accessible from Interstate 90, Route 53/I-290, and Interstate 294. The Wheeling Metra train station provides convenient access to downtown Chicago.
125 S. Wacker Drive
Chicago, IL 60606
450 Manda Lane I Wheeling I IL 60090
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 loan brokerage business in Nevada.
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