Apartment complex with a swimming pool, lounge chairs, and umbrellas, surrounded by a landscaped lawn under a blue sky.

ArkVue Channahon

Class A Multifamily Development | Channahon, IL (Chicago–Joliet MSA)

Joint Venture Equity Offering: $10.33 Million

Target Returns: 30.8% IRR | 2.23x Equity Multiple

Active Investment Offering

Overview

ArkVue Channahon is a 240-unit, Class A multifamily community positioned in the high-growth Channahon submarket — strategically located at the junction of Interstates 55 and 80, one of the Midwest’s most active logistics corridors. The fully entitled, pad-ready site has secured all approvals, with utilities and infrastructure in place. Construction begins January 2026 and delivery is expected January 2028 .

CR Capital structured a hybrid equity and debt investment alongside institutional partners to capitalize on strong regional growth, limited supply, and robust tenant demand.

Investment Summary

Total Project Cost $57.4M ($239K/Unit)

LP Equity Raise $10.33M (90% LP)

Debt Financing $45.9M (80% LTC)

Stabilized NOI $4.62M

Exit Value $77.97M ($324.9K/Unit)

Target Returns 30.8% IRR / 2.23x Multiple

Return on Cost 8.05%

Investment Highlights

Market-Defining Class A Product: Only new market-rate multifamily development in Channahon since 2020, featuring resort-style amenities, modern interiors, and superior design.

Unprecedented Employment Growth: 2 miles from the $3B CN Chicago Logistics Hub (7,000+ jobs by 2027) and near $11.7B in regional investment, including Amazon and NorthPoint expansions.

Strong Demographics: Median income $123K, 1.5% annual population growth, and ranked among the safest cities in Illinois.

Supply-Constrained Market: 97% occupancy and zero new pipeline in Grundy County.

Strategic Location: Immediate access to I-55 and I-80, minutes to Joliet, and under an hour to Chicago.

Development Overview

Total Units: 240
Avg Unit Size: 909 SF
Rentable SF: 218,112

Unit Mix: 55% 1BR | 35% 2BR | 10% 3BR

Projected Rents: $1,928/month ($2.12/SF)

Amenities: Resort-style pool, fitness center, outdoor gathering areas, garage parking, smart-home features.

Sponsorship

REV Development: $300M+ completed; specialists in mixed-use and multifamily.

NGC Group: 20+ years in construction; 78% repeat client rate.

Investment Thesis

Fully entitled, pad-ready site with infrastructure in place.
No Class A competition within five miles — true first-mover advantage.
30,000+ new jobs within 10 miles, including 7,000+ adjacent to the site.
Median household income 60% above U.S. average.
Attractive entry basis of $239K/unit vs $275–325K/unit comps.
Institutional-quality development team with $1B+ in completed projects.

Partnership Alignment

CR Capital Management and NGC Group maintain a strategic partnership combining capital discipline and construction execution.

Together, they deliver vertically integrated, institutional-grade development platforms that de-risk execution, ensure transparency, and align interests across investors, developers, and contractors.

Living room with cream-colored sofa, armchair, wooden coffee table, side tables, lamps, and wall art, with large windows showing an outdoor courtyard with grass and a white apartment building.