Description

Jones Lang LaSalle Americas (Illinois), L.P. (JLL), a licensed real estate broker, is pleased to present Atrio (the "Property"), a premier 272-unit apartment community ideally located within Chicago's Illinois Medical District (IMD).

Built in 1964 and extensively renovated in 2021, Atrio now features top-of-the-line interior finishes and modern amenities. Residents enjoy access to a fully equipped fitness center, yoga studio, business center, and rooftop terrace with grilling stations and uninterrupted skyline views.

Atrio attracts a highly educated resident population, predominantly healthcare professionals drawn to its prime location next to Rush University Medical Center, Illinois' top-ranked hospital. The property sits within the Illinois Medical District, where more than 30,000 healthcare professionals work across surrounding facilities, providing exceptional proximity to major employment centers. The location also offers convenient access to the University of Illinois Chicago (UIC), the United Center, and Chicago's vibrant West Loop neighborhood.

This excellent opportunity is available free and clear of existing debt.

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Attributes

Units

272

Occupancy

96%

Year built

1964

Year renovated

2021

Building area net

18,716 sm

Parking spaces

119

Media

Investment highlights

IDEAL INVESTMENT PROFILE
96% Leased Today
Minimal Number of ARO Units (52) at 60% AMI Earning 25% Tax Reduction Under the AHSAP
Significant Discount to Replacement Cost
Rare Fee Simple Opportunity within the IMD
Supply-Constrained: Only 1,000 Residential Units Across the 560-Acre IMD

PRIME ILLINOIS MEDICAL DISTRICT LOCATION
Largest Medical District in North America
Steps to 4 Major Hospitals, 2 Universities & Recently Completed IMD Gateway - $300M, 9.5 Acre Mixed-Use Development
Immediate Access to I-290
Convenient Access to Chicago's Vibrant West Loop
Set to Benefit from Nearby United Center's Transformational $7B Mixed-Use 1901 Project

FRESHLY RENOVATED INTERIORS & AMENITIES
Over $43 Million in Extensive Redevelopment Completed in 2021
Rooftop Deck with Breathtaking Views of Chicago Skyline
Co-Working Space & Conference Rooms
Fitness Center with Private Fitness Studio

UNPARALLELED DEMOGRAPHICS
High Average Household Income of $155,000
Low Rent to Income Ratio at 18%
30% of Residents are Medical Professionals
Highly Educated Renter Pool - 35% Hold Bachelor's Degree & 27% Graduate/Professional Degrees