|Number of units||151|
Jones Lang LaSalle Americas (Illinois), L.P. (“JLL”), is pleased to present the Wicker Park and Western Portfolio, a 151-unit mixed-use portfolio located on Milwaukee Avenue in the beautiful neighborhoods of Wicker Park and Logan Square. The Portfolio offers integrated mixed-use retail, residential, and office components which provide an investor the ability to maximize value in one of Chicago’s prime urban neighborhoods. The phenomenal location of this Portfolio is highlighted by exceptional accessibility to transportation, dining, retail, entertainment, and the greater Chicagoland area.
The Portfolio offers a perfect mix of retail, residential and office components allowing investors to diversify their holdings while building scale in Chicago's top neighborhoods. The opportunity is available at a discount to replacement cost due to rising construction costs, changes to the Affordable Requirements Ordinance (ARO), lack of available construction sites, and significant barriers to entry. A new buyer will have the opportunity to add value through the lease up over 4,000 SF of premier Milwaukee Avenue retail space and continuing to enjoy the organic rent growth of 17% trade outs on average throughout the portfolio. This unique and rare opportunity can be purchased together as a portfolio or each deal individually and is available on a free and clear basis.
- Perfectly Positioned In The Heart Of Wicker Park & Logan Square
- Phenomenal Transit-Oriented Location (99 Walk Score)
- Investors Can Purchase Assets Together as a Portfolio or Individually
- Fantastic Property Performance - 17% Average Trade Outs
- Access To Top Chicago Employers And Fortune 500 Companies
- Immediate Scale In High Barrier to Entry Submarket
- Value-Add Upside - Over 4,000 SF Of Prime Vacant Milwaukee Ave Retail Space
- 5-Year Projected Average Occupancy - 95%
- Boutique Investment Size
- Limited New And Future Supply
- Available Free And Clear