1091 5Th Ave Naperville, IL 60563
- Commercial real estate
- 6.56 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1091 5Th Ave
- Lot size
- 6.56 lot acres
- Property type
- Commercial real estate
Description
This exceptional 6.56-acre site in Naperville, Illinois, presents a compelling opportunity for multifamily development. Located at 1091, 1087, 1083, and 1079 W 5th Avenue, Naperville, IL 60563, this property boasts a prime location within minutes of Downtown Naperville's vibrant amenities, including the newly renovated Block 59 dining and entertainment district. Residents will enjoy easy access to a variety of retail centers, employment opportunities, and recreational activities. The site's proximity to the Naperville Metra station provides convenient access to Downtown Chicago, approximately a 45-minute commute. The property is also within walking distance of Naperville's top-rated high school. Initial discussions with city officials have indicated a positive outlook for multifamily development in this area. The Naperville market has experienced robust rent growth, with a 5.7% year-over-year increase in Q2 2024, indicating a strong demand for new housing. This presents a unique chance to capitalize on this upward trend and develop high-quality apartment units in a thriving submarket. The property's size and location make it an ideal candidate for a comprehensive multifamily project with attractive amenities. This is a rare opportunity to build in a highly desirable and established community known for its excellent schools, safe environment, and strong sense of community.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Naperville
- County
- Dupage
- State
- Illinois
- Longitude
- -88.170069862857
- Latitude
- 41.781819052721
