fourNorth Apartments
4 North Hickory Avenue, Arlington Heights, IL, 60004, US
76 units
Description
Jones Lang LaSalle Americas (Illinois), L.P. (JLL) is pleased to present The Medallion ("The Property"), a boutique, luxury 72-home apartment community located in Chicago's sought-after Lakeview neighborhood. The property was transformed from a parking garage into apartments in 2023 and now consists of studios, one-bedroom, and two-bedroom layouts. All units feature brand-new, upscale interior finishes. Between the rooftop sundeck, fitness center, garage parking and 100% occupied on-site retail, residents benefit from an all-inclusive, luxury experience.
The Medallion enjoys a premier location in the dynamic Lakeview submarket, positioned on bustling Broadway Avenue and adjacent to Lake Michigan. The property offers residents immediate access to a vibrant array of dining, shopping, and recreational activities, with convenient public transit to downtown Chicago's employment centers. This attractive live-work-play environment appeals to a diverse resident base including young professionals and students. This incredible investment opportunity is available free and clear.
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Attributes
Units
72
Occupancy
99%
Year built
1928
Building area net
8,407 sm
Media
Investment highlights
- Irreplaceable Lakeview Location
- Incredible Walkability (96 Walk Score). Countless Dining, Retail, Shopping & Grocery
- Steps from Lake Michigan, Wrigley Field, and Belmont Harbor
- Adjacent to Multiple Transit Options including CTA Trains and Bus Lines
- Borders Other Top Neighborhoods Including Wrigleyville, Southport Corridor and Lincoln Park
- Exceptional Investment Opportunity
- Ideal Boutique Investment Size at 72 Homes
- Strong Lease Trade Outs Averaging 13% On New Leases and 9% On Renewal Leases (May 2025 to April 2026)
- 100% Occupancy Provides Opportunity to Increase Rents
- Impressive 65% Retention
- Low 16% Area Rent-to-Income Ratio Proves Rent Upside
- 9% Increase of Rental Revenue Since 2024
- Upscale Property Features
- Brand-New Units with Top of the Line Finishes
- Terrific Amenities including a Fitness Center, and Rooftop Deck with Fit Pits & Grills
- 100% Occupied On-Site Retail and Parking Amenity for Tenants
- Desirable Unit Mix of Studio, One, and Two Bedroom Units
- Wifi Coverage for Entire Property
- Superior Submarket Fundamentals
- No Properties > 100 Units Under Construction within 2 Mile Radius
- Consistent 96% Occupancy Projected Over Next 5 Years
- Strong Employer Base and Strong Average Area Income of $170,000
- Over 5%+ Rent Growth in the Last 5 Years
Contact brokers
The Medallion Lakeview (0 Properties)
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Last updated
Apr 29, 2026
