Woody Creek Condos
This is an exciting opportunity to invest in a high-quality multifamily property in Schererville, Indiana, a thriving and upscale community just 45 minutes from Chicago. Built in 2012, the property features 24 spacious 2-bedroom, 2-bathroom condos, each offering 1350 square feet of modern living space. With vaulted ceilings, private decks, chef-inspired kitchens, and individual garages, these units are perfectly positioned to attract tenants seeking premium and upscale suburban living with convenient access to Chicago’s job market—without the burden of the city’s higher taxes and regulations.
What makes this property a standout investment is its combination of value-add potential and newer construction. Current rents are significantly below market, creating a compelling opportunity to elevate rental income with simple cosmetic upgrades. Combined with attractive seller financing terms, this deal offers a low-risk, high-reward path to strong returns.
At Asset Stream Properties, we excel at uncovering opportunities like this one, leveraging our expertise to transform underperforming assets into high-performing investments. With our hands-on approach and proven track record, we ensure every detail is expertly managed, so you can enjoy the benefits of passive real estate income without the hassle
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Key Highlights:
PRIME LOCATION
Located in Schererville, Indiana, an upscale and rapidly growing community with close proximity to Chicago’s job market and amenities.
NEWER CONSTRUCTION
Built in 2012, the property requires minimal maintenance and appeals to modern renters.
VALUE ADD POTENTIAL
Current rents of $1.09 per square foot, well below the $1.50+ market average, can be elevated to $2,095+ per month with cosmetic upgrades, while two vacant units offer immediate cash flow potential after light renovations.
ATTRACTIVE SELLER FINANCING
Six-year, interest-only financing starting at just 3.25% in years 1 and 2, gradually rising to 4.5% by year 6. Lower upfront costs and enhanced cash flow, with no bank involvement to streamline the process.
STRONG FINANCIAL PROJECTIONS
16%-20% projected IRR, 20%+ projected average annual return, and a projected 2-2.5X equity multiple.
2 INVESTMENT CLASS OPTIONS
The investment structure offers different classes tailored to varying contribution levels, each with a preferred return, an initial profit-sharing split, and potential for increased returns as performance hurdles are met.
DEAL OVERVIEW
1
The Numbers
Woody Creek offers a projected IRR of 15–19%, a potential equity multiple of 2–2.5x, and an enhanced IRR of 19–23%
2
Investment Classes
Class A offers an 8% preferred return with a 70/30 split, shifting to 50/50 after a 17% IRR hurdle, while Class B offers a 5% preferred return with a 60/40 split, moving to 50/50 after a 15% IRR hurdle.
3
OFFERING TYPE
his is a 506(c) syndicated investment offering, with fund-to-fund options available.
4
MINIMUM INVESTMENT
The minimum investment is $50K and is open exclusively to accredited investors, with facilitation available to assist you through the accreditation process.
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