Kelly Shumaker, firstname.lastname@example.org, (720) 938-5646
Kim Manning, email@example.com, (312) 267-4527
Strong Demand for Luxury Rentals at The Oaks of Vernon Hills Prompts Additional Phase
CHICAGO (July 23, 2015) – Chicago-based REVA Development Partners announced that due to strong demand for luxury rentals at The Oaks of Vernon Hills, a 304-unit rental community in Vernon Hills, the developer has expanded beyond its original plans and is building a second phase, which includes an additional 32-unit building to be completed in early 2016. Final construction of phase one of the 27-acre development, which broke ground in late 2013, will be complete in early September 2015, with three model units currently available for viewing. Leasing and property management is being overseen by Kinzie Real Estate Group.
Located along Route 45, just west of Milwaukee Avenue, The Oaks of Vernon Hills is nestled in a serene setting among mature Oak trees. Phase one of the development, which is now almost 70 percent leased, includes eight three-story, apartment buildings and 48 rowhomes configured in a series of pocket communities. The 256 apartment flats include one-bed/one-bath, some of which include a den, and two-bed/two-bath plans measuring 696 to 1,212 square feet. Each garden-style building is served by an elevator and also includes attached garages. The rowhomes, measuring 1,487 to 1,800 square feet, offer two or three bedrooms with 2½ baths and an attached two-car garage. Rents range from under $1,400 for apartment flats to $2,700 for rowhomes.
“Many of our residences were pre-leased even before construction was complete. In particular, the rowhomes, which are rare in the suburban luxury rental market, have seen an extremely high level of interest from renters and are currently all leased with a waiting list,” said Matt Nix, principal of REVA Development Partners. “We still have one- and two-bedroom units with rents starting below $1,400 a month. However, with the strong market response we don’t anticipate those will be available for long. It’s been a very busy spring and summer leasing season.”
Recently opened models showcase the variety of floor plans available at The Oaks, including a one-bed, one-bath apartment; a two-bed, two-bath apartment; and a two-bed, 2½-bath plus den rowhome. “Our decorated models are now available for potential residents to tour. The models highlight the open layout of each unit and show off the different finish packages available to renters,” said Nix. “The Oaks’ high-end finishes, flexible layouts and upscale amenities have been extremely popular among empty-nesters and young professionals.”
Interior finishes include 9-foot ceilings, granite countertops, stainless steel appliances, contemporary flooring and in-unit washers and dryers. Additionally, The Oaks is working to achieve a LEED Silver certification through conscientious building design and construction.
Residents can also take advantage of a full suite of amenities designed to enhance and complement their daily lives, including a clubhouse with a catering kitchen, outdoor swimming pool with sundeck and fire pit, theater/gaming room, state-of-the-art fitness center, and full-time, on-site management and maintenance staff.
“The Oaks is a very social community and the clubhouse has become the heart of that activity, with year-round gatherings that include monthly happy hours on the pool deck, painting parties, and a summer movie in the park,” said Nix.
Residents can also take advantage of the community’s outdoor grilling stations and on-site bocce ball court, providing additional opportunities to socialize and connect with each other. The Oaks will also offer a dog park, slated to open Sunday, July 19, along with monthly “Yappy Hours,” held the first Saturday of each month.
“We know that pet amenities are an important consideration for renters in a lifestyle community like The Oaks,” said Nix. “We wanted to go beyond just allotting space for a dog park and provide a place for our residents, both two-legged and four-legged, to get out and get to know their neighbors.”
The Oaks benefits from its highly accessible location, within a mile of both the Vernon Hills and Prairie View Metra stations, and proximity to I-294 and Milwaukee Avenue. Additionally, the community is within minutes from popular dining and entertainment destinations at Westfield Hawthorn shopping center, and a short drive from the award-winning Adlai E. Stevenson High School District 125 and several quality schools that are part of the Lincolnshire-Prairie View District 103. For more information, visit www.oaksofvernonhills.com.
About REVA Development Partners
REVA Development Partners is a privately held, Chicago-based real estate development company. The principals, Warren James and Matthew Nix, have extensive experience successfully developing high-quality rental and for-sale housing and mixed-use projects throughout the Midwest. REVA’s expertise includes land acquisition, design, planning, financing and construction for projects ranging from small infill sites to complex, master-planned developments. For more information, visit www.revadevelopment.com.
Editors: Prices are subject to change. To confirm current information, contact Kelly Shumaker, firstname.lastname@example.org, (720) 938-5646
Photo Caption: Strong demand for luxury apartments at The Oaks at Vernon Hills, a 304-unit rental community in Vernon Hills, prompts additional phase.