Gold Coast Collection

JLL is pleased to present the opportunity to acquire “The Gold Coast Collection,” three premier street retail assets, currently 92% leased to top tier tenancy comprised of national fashion brands and investment grade financial service tenants as well as luxury bridal, fitness, and medical aesthetics users. Investors interested in The Gold Coast Collection will have the opportunity to bid on individual properties as well as a portfolio basis.

The Offering features three prime corner locations housed in charming and modern jewel boxes totaling 42,358 square feet in the heart of Chicago’s Gold Coast. The investment grade tenants, Chase Bank, PNC, and LensCrafters (Luxottica) collectively offer 5.3 years of WALT and comprise 26% of the in-place revenue. These three credit tenants along with the portfolio’s additional national brands (Peter Millar, Abercrombie & Fitch, and Rumble Fitness) combine to offer 5.7 years of WALT and are responsible of 84% of the in-place revenue. All leases include contractual escalations, offering secure and accretive cash flow that result in a 4.9% CAGR over a 5-year hold and 6.2% when lease up of the vacancy is considered.

The Gold Coast is one of the most desirable luxury submarkets in the country. International fashion maisons, bespoke jewelers, brands showcasing flagships, and the city’s hottest food and beverage establishments flock to this submarket seeking best-in-class co-tenancy and sales volumes that are not seen anywhere else in the Midwest. The immediate vicinity draws from the wealthiest-in-class shoppers searching for top quality indulgent products, high-end jewelry, and fine dining options that boast the most robust sales figures in the city and in some cases, the entire country. Incredibly well-served by public transit, the area boasts the Red Line, averaging nearly 250 million annual riders, as well as Chicago’s famous Lake Shore Drive which allows for convenient driving access to and from the northern and southern parts of the city and state. Similarly, the area features an abundant amount of CTA bus options as well as numerous parking and hotel options with over 25 hotels within a 1-mile radius.

Accepting bids on the full portfolio, sub-portfolios, and individual assets.