Aventine at Oakhurst North Apartments
Hayman Company is pleased to announce the acquisition of Aventine at Oakhurst North Apartments, a Class A multifamily community (Class A location) comprised of 464 apartments, strategically located in the vibrant North Aurora/Naperville submarket of Chicago.  

  • Over the past five years, Aventine has received an investment of $5.6 million for apartment renovations and exteriors/common area improvements. The curb-appeal is excellent, and all apartments have private entries, washers/dryers, nine-foot ceilings, large floorplans, and numerous windows providing additional natural light.

  • The seller has completed a moderate renovation of 70% of the apartment interiors. Hayman’s renovation of the 144 classic apartments will include new counters, stainless-steel appliances, classic backsplash, faux-wood flooring, modern lighting, levered door hardware, two-tone paint, and two-inch blinds.  

  • Hayman Company will invest an additional $3 million in the amenities and exterior/common areas to further enhance the curb appeal and attractiveness of Aventine. Aventine’s amenities include a large, modernized clubhouse, large fitness center, indoor pool, outdoor pool, grilling area, playground, and bark park.

Well-established multifamily community in a highly-desirable, Class A location. 

  • Residents of Aventine enjoy outstanding schools (Indian Prairie/Naperville 204), quick access to major employers, successful retail centers, suburban downtowns (restaurants and entertainment), highways (I-88, I-355, and I-294), and commuter rail to downtown Chicago. 

  • The in-fill location, with high barriers to entry, has limited new supply that possesses rents hundreds of dollars higher than the proforma, post-renovation rents for Aventine. Most apartment communities in the submarket have institutional owners who continually invest in and maintain their properties.

  • High household incomes ($107,000) and home values ($317,000) in a one-mile radius.

The year-one capitalization rate of 5.0%, combined with a new, 10-year interest only loan, provides excellent cash-on-cash returns and a strong IRR.
For future equity investment opportunities, please contact Hayman Company
Should you have any questions regarding your investments and IMS account,
please feel free to contact the Investment Relations Team
29100 Northwestern Hwy. Ste. 410
Southfield, MI 48034