The Brixen

2839 N Natoma Ave, Chicago, IL, 60634, US

Description

Jones Lang LaSalle (“JLL”) is pleased to present The Brixen, a 165-apartment home community located in the prominent Montclare submarket of Chicago, Illinois. The property includes fourteen masonry construction, walk-up style buildings with condo quality finishes, including central heat and air conditioning, in-unit washers and dryers, modern appliance packages, granite countertops, and nine-foot ceilings.

All apartments are 2-bedroom, 2-bathroom with an average of 1,266 square feet. The property features 183 parking spaces, which includes 24 garage spaces and 159 surface parking spaces. The Brixen includes only ten affordable (ARO) units, or 6% which is less than a third of what would typically be required today for new construction rentals in Chicago. Additionally, The Brixen offers investors an ideal opportunity to increase rents through a light value-add renovation program.

Investors will also have the opportunity to assume the existing 3.54% fixed-rate loan, which expires 12/01/2031.

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Attributes

Number of units

165

Media

Investment Highlights

Fantastic Property Performance
98% Occupancy
No Concessions Offered
9.4% Lease Tradeouts on New Leases

Strong Submarket Performance
3.6% Projected 3-Year Effective Rent Growth
96% 5-Year Projected Average Occupancy
Zero Properties Under Construction within a 4-Mile Radius

Spacious, Modern Homes
100% 2 Bed 2 Bath Units- Avg 1,266 SF
Spacious Open Floor Plans
In-Unit Washer-Dryers

Transit-Oriented Location
Easy Access to I-290, I-294, and O’Hare International Airport
Across the Street from in Demand Retail - Target, Starbucks, Chipotle & More
Centrally positioned near 3 largest employment centers - Chicago CBD, Rosemont/O’Hare, and Oakbrook/Downers Grove