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7-25-1997 0: 10AM FROM MSP REAL ESTATE. INC. 612 336 4565 P. 13
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<br /> TABLE` Brookhaven Swnmarl►
<br /> One Bedroom/One Bath Two Bedrooms/One or Ona.an -Htdf,Balhs Three 8w/rooms/( a
<br /> Rent Rent
<br /> Total No. Size(In Rent per No. Size On Rent per No. Size(in Rer
<br /> Number of square per. : square of square per square of ReM Ae
<br /> of Units Units feet).. Month foot Units feet) Month foot Ur>"if4w„t�ee a per SQu
<br /> � Month roe
<br /> 181 70 700, 3848 $1.21 82 1.100 $1,045 $0.95 16 1,250 51,143 $0.9
<br /> 13 600 $818 S1.36
<br /> rte, a.,
<br /> buildings and 36 units per building for a tion was 13,701, the value of the average
<br /> total of 288 units. Some of the units are house was $176,897, and the average in-
<br /> slightly below grade. Amenities include come was$64,259.Living in Greater Chicago
<br /> two detention areas, landscaping, and a reported 1993 total building permits of 594
<br /> iclubhouse currently housing the rental of- and 1994 building permits of 578 through
<br /> s Liice.The building is fully occupied.Units September 30,1994.6
<br /> . • come with carpeting,window treatments, The; Brookhaven site contains '15.8
<br /> 1' . ceiling fans, and microwave ovens. The acres, resulting in a density as built of
<br /> management estimates that 30 to 40 au- about 115 units per acre.A library,a deten-
<br /> . • dren live in the complex,of which 20%are tion area,and open space are between the
<br /> • school age,5%are high school age,and the low-income housing and the street on
<br /> • remainder are elementary school age.The which the project is located.West of the site
<br /> developer of Waterford Place previously is county-owned land designated as a for-
<br /> has constructed identical developments est preserve. North and west of Brook-
<br /> . that are commanding market rents in other haven is a public library, and north of
<br /> . • locations in Lake County.The complex ap- Brookhaven is a high school.A small group fik
<br /> • . pears to be well maintained. of single-family houses are north of NW
<br /> According to the MAP MLS,the aver- Brookhaven,and a newer townhouse de-
<br /> age listing price in the Zion and Beach Park velopatent is across the street..
<br /> market area for the first 9 months of 1994 Constructed in 1981,the development
<br /> . was$99,876,and the average sale price was is entirely Section 8,The 181 units are con-
<br /> ' $95,328.All lots in Westside Rills,the sin- figured in seven clusters of four buildings.
<br /> gle-family development immediately north Of the 70
<br /> of Waterford Place, are priced at garden-level one-bedroom units,
<br /> $27,900 .12 are handicapped accessible,and of the
<br /> and are being sold both to individuals and smaller one-bedroom units, 6 are Nandi-
<br /> • to developers. New'.houses:in Westside capped accessible. There are 82 two=
<br /> Hills are listed at$132,000 to$136,900. In bedroom units with three slightly varying
<br /> Butterfield Place,since marketing began in sizes and configurations and 16 three-
<br /> January 1994,22 houses have sold and 10 bedroom units.The main buildings contain
<br /> have closed. Listing prices range from a total gross building area Of about 191,000
<br /> a, $114,990 to$122,990.In Harbor Ridge,' ist square feet and a total rentable area of
<br /> in;prices range from$111,990 to$146,900, about 165,600 square feet.The complex in-
<br /> Waterford Place appears to have no ad- eludes a clubhouse, a maintenance build-
<br /> verse impact on market demand in the ing,parking,two children's play lots,a ten-
<br /> area,as evidenced by continued sales and iris court, and a swirnuung pool. There is
<br /> • development of single-family lots buredi- ample unassigned parking. The complex
<br /> ately north of this housing development. appears to be in good condition. Manage-
<br /> 'new reports that there are 142 children liv-
<br /> Brookhaven Apartments,Gurnee,Illinois ing in the development, of whom 62 are
<br /> The final development analyzed was the preschool age,59 are in elementary school,
<br /> oldest one(see Ue ble 4).Brookhaven Apart and 21 arra in high school,
<br /> merits is Located in Gurnee,_:Illinois.. 45 According to the Northern Illinois -
<br /> miles 40
<br /> north of downtown Chicago inn Lake MLS, the average sale price of single-
<br /> County.Rapidly growing,the 1994 papule- family homes in Gurnee for 1994 was
<br /> ,- ti, ,,,,,, ceegge of qualified p�mats,which is gena*IIy rho pion of the projecr that Nowa low-income tenants Ram cm ba no K-zs�x r'+�":, :,
<br /> c peater 111663ox of 50S or 60%of the `
<br /> tk,,<. ,, +irea'sauadi�reimcvime. '.�. .a�rsm
<br /> _ 6. Living i►r GnsirefChi p 21 _ ->,. :�a
<br /> s
<br /> • . _ MoRous:tow-Incctrne Hotlslno M dur Acriry z
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