Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 1985
Building Area
Land Area ()
Number of units 400

Property Description

Jones Lang LaSalle (“JLL”) is pleased to present River North Park (the “Property”), a

stunning 400-home, high rise apartment building located in Chicago’s renowned

River North neighborhood. The property is located just minutes from Chicago’s top

employers, world-class retail at Magnificent Mile, and premier entertainment venues.

Current ownership has spent $13.4 M in capital expenditures updating the property

to provide a full package of outstanding apartment finishes and luxurious amenities.

Investment Highlights

Irreplaceable Property

  • $4.2 M in CapEx Spent on Renovations and $5.4 M in CapEx Spent on Community Amenities
  • Rare Direct Access Townhomes (20 units)
  • 100% Market Rate Units
  • Available Below Replacement Cost
  • High barriers to entry submarket

Significant Value Add Upside

  • 57% of Units to be Renovated
  • Rent Value Option Surrounded by More Expensive Competition

Premier Location

  • Located in renowned River North
  • Convenient access to top employers
  • Abundant dining and nightlife galore

Strong Area Demographics

  • 76% Population Growth in River North Since 2000
  • 85% Bachelor’s Degree or Higher in River North
  • Avg. HHI is $159k in River North
  • Median Age is 35 in River North
Last Updated Date: 07 Oct 2021
Mark Stern
Mark Stern
Managing Director, Capital Markets
Kevin Girard
Kevin Girard
Senior Director, Capital Markets
License details
IL-475.17469

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Last Updated Date: 07 Oct 2021

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