15119 Catalina Drive
- Rarely Available Scale in Affluent Suburb - $100K MHI
- Large Unit Mix - 67% Two Bedroom Units
- Significant Rental Upside As-Is - 10-15%
- Well-Maintained Property - Flexicore Construction
- Central Heating & Air Conditioning
- Several Recent Capital Expenditures - Roofs, Hot Water Heaters and Furnaces
Property Description
Essex Realty Group, LLC has been exclusively engaged to market for sale the Heritage Manor Apartments, an 84-unit, multifamily portfolio located in Orland Park, Illinois. The property consists of seven well-maintained buildings situated along Catalina Drive, Willowood Court, and Sycamore Court, offering investors a rare opportunity to acquire immediate scale in one of Cook County’s most stable and affluent rental markets. Built in 1977, Heritage Manor comprises of 28 one-bedroom/one-bathroom units and 56 two-bedroom/one-bathroom units, totaling approximately 92,106 square feet on a 224,202-square-foot site. The portfolio benefits from an attractive unit mix (67% 2-Beds) with favorable average unit sizes of approximately 850 SF for one-bedrooms and 1,000 SF for two-bedrooms, catering to long-term suburban renters seeking spacious layouts and accessibility to employment and retail corridors. Ownership has consistently maintained the property with a strong focus on ongoing capital preservation and operational efficiency. Recent notable improvements include the replacement of all roofs from 2016-2024 & three hot water heater tanks in 2025, with additional system upgrades implemented across the portfolio in recent years. Heritage Manor is located approximately 25 miles southwest of downtown Chicago within the Village of Orland Park, a premier regional hub characterized by strong household incomes, high homeownership rates, and exceptional regional connectivity via I-80, I-355, U.S. Route 45, and 159th Street. The area is anchored by Orland Square Mall, national retailers, medical offices, and a thriving dining corridor along La Grange Road and 159th Street, reinforcing sustained rental demand and long-term investment stability. As one of the southwest suburbs’ most established multifamily markets, Heritage Manor presents a compelling opportunity to acquire a well-located, institutional-quality portfolio offering scale, proven income durability, and identifiable rent growth potential.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $13,950,000 |
| No. of Units: | 84 |
| Opportunity Zone: | No |
| Price per unit: | $166,071 |
| Property Website | Click Here |
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Lenders
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Andrew Schildcrout