2487 Chestnut Hill Drive
Sale Price: Upon Application
Property Type: Market Rate
Unit Count: 96 Units
Year Built: 1980
NAI Wisinski Great Lakes (member NAI Global) is pleased to exclusively present Chestnut Hills Apartments. The subject property is a market rate, 96-unit garden style residential community located in Oshtemo Township, a suburb of Kalamazoo, Michigan. Chestnut Hills is a well-maintained Class “B” asset, complete with covered parking, green space, a fitness center, and outdoor pool. The site also includes approximately 6.04 acres of land, with current zoning for a second phase of 45 additional units.
Chestnut Hills is nestled in a serene and peaceful environment just set back from Stadium Drive which serves as a prominent thoroughfare connecting Oshtemo to downtown Kalamazoo. This commercial corridor boasts a highly developed infrastructure with a diverse array of amenities, including shops, restaurants, and bars. The corridor provides an extensive selection of retail choices and convenient services, catering to the needs of Chestnut Hills residents and the surrounding community. The property is also located near Western Michigan University, a renowned Division 1 school and the property serves as residence to some graduate students and University employees.
Kalamazoo is a vibrant, diverse, and growing city in southwest Michigan and the sixth largest metropolitan area in Michigan. The city features a revitalized downtown full of bars, restaurants, and entertainment venues. Kalamazoo is home to a Division I institution, Western Michigan University, and headquarters to major international businesses such as Stryker, Bell’s Brewery, and Pfizer. Graduates of Kalamazoo Public Schools benefit from the Kalamazoo Promise, a program that guarantees them college tuition.
Recently named one of the best places to live in the U.S. by U.S. News and World Report, Kalamazoo was also ranked as one of the lowest costs of living metros in the country. The Kalamazoo area offers a great opportunity for real estate investment. In 2022, the total population within five miles of Chestnut Hills was 127,797 with an average income of $76,571. Of this population, 59% were renters. The population is projected to grow to 130,024 by 2027.