The Parker Fulton Market_Actifs en vente
The Parker Fulton Market_Actifs en vente
730 West Couch Place, Chicago, IL, 60661, US

The Parker Fulton Market

Description de l'actif

Jones Lang LaSalle Americas (Illinois), L.P. (JLL), is pleased to present The Parker, a Class A 227-unit luxury apartment building located in Chicago’s most dynamic submarket, Fulton Market. What was once home to storied meatpackers and industrial warehouse users has undergone a rapid transformation following the announcement of Soho House, Google and McDonald’s planting roots in the neighborhood. The area’s distinctive character has made it a magnet for a growing number of restaurants, bars, hospitality, and Fortune 500 companies alike. With an average household income of $193,000 and a median age of 34, Fulton Market has cemented itself as the preferred location for Chicago’s highly educated creative-oriented professionals, and one of the most sought after submarkets across the country.


Rising 29 stories above the bustling streets, The Parker boasts expansive views of the downtown cityscape and features top-of-market amenities. The Property was developed by Fulton Market visionary Shapack Partners in 2016 and offers a mix of layouts, ranging from studios to three-bedroom units. At 98% occupancy and average lease rents of $3.67, The Parker offers value creation through capitalizing on the momentum of this innovative submarket by further pushing rental rates and modernizing select building features that will bridge the gap between rents at The Parker and at recent deliveries. All inquiries regarding this asset should be directed to Jones Lang LaSalle Americas.

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Caractéristiques de l'actif

Année de construction
2016
Nombre d'étages
29 étages
Nombre d'unités
227 Unité de mesure
Occupation
98 %
Surface de l'actif Net
17 515 m²
Places de parking
152

Média

Points clés d'investissement

Ideal Investment Profile

  • 95% Average Occupancy since 2019
  • Robust Trade-Outs
  • New Leases: ~8% Since 2022
  • Renewals: ~11% Since 2022
  • Minimal Number of ARO Units (7%) at 120% of AMI
  • Optional Light Value-Add and Income Upside
  • Resiliency - Strong Rent Growth Despite Pandemic and Nearby Lease-Ups
  • Significant Discount to Replacement Cost


Enviable Fulton Market Address

  • Best Location within Fulton Market (Far Most Eastern Section)
  • 99 Walk Score, 90 Transit Score
  • Proximate to Chicago’s Top Employers
  • Steps from Randolph Street Restaurant Row
  • Recent Boom in Class A Retail, Hotel and Office Product


Unparalleled Demographics

  • Average Household Income of $193,000 within 1 Mile of The Parker
  • Low Rent to Income Ratio at 18%
  • Favorable Employer Base at The Parker


Class A Trophy Asset & Amenities

  • High-End Fixtures and Elegant Interiors
  • Top Floor Oculus with Panoramic City Views
  • Fitness Center and Private Yoga Studio
  • Rooftop Pool with Grilling Stations
  • Massive Club Room with Demo Kitchen & WFH Space
  • Developed by Focus, Shapack, and Atlantic Realty and Designed by Booth Hansen


The Parker Fulton Market 4_Actifs en vente
The Parker Fulton Market 4_Actifs en vente

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The Parker Fulton Market (0 actifs)
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Dernière mise à jour
2 mai 2024