The Deco

1400 N Lake Shore Dr, Chicago, IL, 60610-1674, US

Deal Room

Brochure

Gallery

Asset Description

Jones Lang LaSalle Americas (Illinois), L.P. (“JLL”) is pleased to present The Deco, a rarely available opportunity to acquire a generational 389-home luxury lakefront apartment community perfectly situated in Chicago’s vibrant Gold Coast neighborhood. The waterfront property offers residents breathtaking views, encapsulating design, and desirable amenities promoting a life of luxury and incomparable convenience, including immediate access to Chicago’s 18-mile lakefront trail, Magnificent Mile, Navy Pier and Gold Coast’s famous nightlife scene.

Attributes

Occupancy

93.00%

Year built

1929

Building area gross

15,608 m²

Call for Offers

06/04/2023

Investment Highlights

Irreplicable Lakefront Asset

A combination of old-world charm & new-world luxuries in a mesmerizing Art Deco building
Unobstructed panoramic lake and skyline views
Convenient floor plan optionality from studios to 3 bedroom homes
Newly renovated apartments
Completely refreshed amenities
Iconic Lake Shore Drive address

Lavish Gold Coast Location

Steps from the lakefront and Gold Coast’s vibrant entertainment scene
Affluent Gold Coast Neighborhood residents earn an impressive household income of $198K
Dynamic Live-Work-Play location
Plethora of transportation options (CTA train and bus lines, bike rental stations, direct parkway access)

Generational Opportunity

Verified in-place value-add upside achieving ~$390 (25+% premiums over in-place rents)
No future lakefront supply pipeline
Available at a significant discount to replacement cost
Unmatched high barrier address
Rarely available asset on the lakefront in Chicago’s Gold Coast neighborhood