Description

Jones Lang LaSalle Americas, Inc. (“JLL”), is pleased to present for purchase 1430 N. Dearborn (“1430”), a 68-home mid-rise apartment community, and 1504 N. Dearborn (“1504”), a 49-home mid-rise apartment community. Located less than a block apart on North Dearborn Street in Chicago’s Gold Coast neighborhood, this portfolio represents a very rare opportunity to acquire two boutique assets in one of Chicago’s most affluent and desirable neighborhoods. The communities appeal to young professionals and higher-income renters drawn to the area’s vibrant atmosphere, lakefront proximity and walkability. Both properties are currently 95%+ occupied, consistent with the broader North Lakefront submarket’s tight operating conditions.

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Attributes

Units

117

Occupancy

95%

Year built

1928

Building area gross

5,257 sm

Dearborn Portfolio - 1430 & 1504 N Dearborn (2 Properties)

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Investment highlights

Dynamic Live, Work, Play Location

Located in the Gold Coast — One of Chicago’s Most Established and Amenity-Rich Near North Side Neighborhoods
Incredible Walkability (94 Walk Score); Countless Dining, Shopping & Grocery Options

Ideal Investment Opportunity

Scale Opportunity — 117 Combined Homes Across Two Mid-Rise Assets in One of Chicago’s Top Submarkets
Available Individually or as a Portfolio to Preserve In-Place Operating Efficiencies
Value-Add Upside at Both Properties Through Unit Renovations and Interior Repositioning

Trophy Gold Coast Asset

Two Historic Mid-Rise Buildings (1926/1927) Positioned in the Heart of the Gold Coast
Efficient Studio and One- Bedroom-Weighted Unit Mix Suited to the Submarket’s Young Professional Renter Base

Strong Demographics & Fundamentals