Chouteau Bay Apartments 101-103 Whitsell Way 152 Unit Apartment Building For Sale Granite City, IL 62040

Built in phases with an average 1993 vintage, Chouteau Bay Apartments is a 152-unit community featuring an all two-bedroom floor plan mix. Recent capital improvements include new siding, decks, parking lots, system upgrades, and refreshed unit interiors. The property has enjoyed long-term local ownership and is located adjacent to Gateway Commerce Center and major employers such as Amazon and World Wide Technology.
PROXIMITY TO MAJOR EMPLOYERS & ECONOMIC DRIVERS
Chouteau Bay is directly adjacent to the Gateway Commerce Center, a 2,300-acre industrial park with more than 16 million square feet of industrial space and major employers such as Amazon, World Wide Technology, Unilever, Proctor & Gamble and Dial. It is also located within a 10-minute drive to the Southern Illinois University Edwardsville campus, home to more than 12,000 students in Fall 2025.
MINUTES FROM EDWARDSVILLE, IL AND ST. LOUIS, MO METRO
Chouteau Bay offers a central location minutes from Edwardsville, one of Southern Illinois’ fastest-growing communities with top-rated schools and nearly $140 million in public and private investment in 2024. Immediate access to I-270 and I-255 provides excellent regional connectivity, including a ten-minute commute to Downtown St. Louis, Missouri.
IMMEDIATE REVENUE GROWTH
Significant upside exists through loss-to-lease capture, as many long-term residents are paying below current market rents. Aligning these leases to the current proven rent levels, represent an average upside of approximately $160 across all units. The implementation of reimbursement charges such as market-standard utility reimbursement charges, application and administrative fees, provides a clear path to immediate revenue growth.
LIMITED NEW SUPPLY DRIVES LONG-TERM RENT GROWTH
There is no new apartment supply in the immediate area, and limited development in Edwardsville further supports sustained long-term rent growth.
FREE & CLEAR OF EXISTING DEBT
Offered free and clear of existing debt, Chouteau Bay provides investors the flexibility to secure the most competitive financing available for maximum return on investment. Agency financing options are available, please contact our debt team for additional details and guidance on tailored financing solutions.