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Kretchmer Associates

Kretchmer Associates

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Watermark at the Grove – Elgin, IL

HUD lender achieves approval for a Class A apartment complex in Elgin, IL

  • Watermark at the Grove is the largest complex to be developed in Elgin in decades
  • Study delivered in HUD’s required format

Elgin Watermark

Requirement

We prepared the market study for a new apartment development in the northwest suburbs of Chicago for Draper and Kramer, the HUD lender for the development. This Class A complex would be the largest to be developed in the city in decades and would have the highest level of amenities in the market.

Approach

Working in HUD’s required format, we provided recommendations to the developer and lender regarding rents and unit sizes to enhance marketability.

Results

The development was approved and is currently under construction.

Elgin Watermark
Elgin Watermark
Related Projects: Illinois, Market Rate Residential

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Kretchmer Associates
807 Davis Street #2004
Evanston, Illinois 60201-7103
(847) 864-8895
vsk@kretchmerassociates.com

About Us

Founded in 1985, Kretchmer Associates is a certified WBE with expertise in all aspects of residential, retail, commercial, and industrial real estate analysis in the Chicago metro area and throughout the rest of Illinois, Indiana, Wisconsin, Iowa, Missouri, Kansas, Nebraska, and Minnesota.
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