One East Delaware_Property for Sale
One East Delaware_Property for Sale

One East Delaware

1 E Delaware Pl, Chicago, IL, 60611-1449, US

Asset description

Jones Lang LaSalle Americas (Illinois), LP, a licensed real estate broker, is pleased to present One East Delaware, a Class A 304-home luxury apartment community located in Chicago’s most affluent neighborhood, the Gold Coast.


The area’s distinctive character has made it a magnet for a growing number of restaurants, bars, luxury stores along famous retail corridors like Oak Street, and immediate access to Lake Michigan. The 95%-occupied community offers above-and-beyond luxury living including flawless finishes, spacious floor plans with ample storage, and a luxurious collection of amenities.


With an average household income of $184,000 and a median age of 35, Gold Coast has cemented itself as the preferred location for Chicago’s highly educated professionals and one of the most sought after submarkets across the country.


Rising 37 stories above the bustling intersection of Delaware Place and State Street, One East Delaware boasts expansive views of both the downtown cityscape and Lake Michigan. With a variety of floor plans from studios to 2-bedroom homes, the property caters to a variety of resident demographics.

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Attributes

Year built
1989
Units
304
Parking spaces
385
Occupancy
95%

Media

Investment highlights

Generational Investment Opportunity

◆ Significant Discount to Replacement Cost

◆ Effective Property Age is Much Newer ‑ Over $30M in Capital Improvements Since 2016

◆ Value Add & Income Upside through Unit Enhancements


Incredible Property & Market Fundamentals

◆ No ARO Units - Compared to 20% of Unit Mix at New Deliveries

◆ Robust Trade Outs

  • 16% Growth on New Leases
  • 9% Growth on Renewals

◆ Minimal Downtown Chicago Supply Pipeline

  • <1% of Existing Inventory Under Construction
  • 266 Units to be Delivered in 2025 - Chicago Deliveries Average 4.5k Units Annually


Irreplaceable Gold Coast Location

◆ Panoramic Lake & Skyline Views

◆ Walking Distance to Michigan Ave / Oak St Retail and Fantastic Restaurants

◆ 100 Walk Score, 93 Transit Score

◆ Proximate to Chicago's Top Employers

◆ Average HHI of $184,000 in Gold Coast


Sought-After Trophy Asset

◆ Elegant Interiors & In-Demand Amenity Package

◆ Convenient Onsite Retail (94% Occ.)

◆ Affluent Resident Demographic — Avg Property HHI of $169k

◆ Prolific Resident Employers

◆ Institutionally Owned & Operated for 30+ Years

One East Delaware 4_Property for Sale
One East Delaware 4_Property for Sale

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One East Delaware (0 Properties)

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Last updated
May 20, 2025