Living / Multi-housing

The Lumen

1600 Euclid Ave, Cleveland, OH, 44115-2121, US

The Lumen_Property for Sale

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The Lumen 2_Property for Sale

Asset description

Jones Lang LaSalle (“JLL”) is excited to present The Lumen (“The Property”), a beautiful 318-unit, high rise apartment building located in the heart of the downtown Cleveland Theatre District. The property is within walking distance of an abundance of Cleveland’s world class attractions, top ranking universities and colleges, and industry leading healthcare and manufacturing.

Attributes

Year built
2020
Building area Net
602,000 sf

Investment highlights

GENERATIONAL ASSET

  • One-of-a-kind, Class A High Rise
  • Distinguished developer - Hines
  • Exceptionally-built asset with jaw-dropping amenities and first class finishes and features


STRONG AREA DEMOGRAPHICS

  • 47% population growth within 1 mile of the property since 2000
  • Median age is 31 within in 1 mile of the property
  • 78% of the workforce is white collar workers
  • 41% Bachelor’s degree of higher in Cleveland


SIGNIFICANT TAX BENEFIT

  • Lumen is subject to long-term tax savings of 30 years
  • 15 years of abated taxes through 2035
  • 15 years of tax savings through Non-School PILOTS from 2036 – 2048


UNBEATABLE LOCATION

  • Fantastic Transit Accessibility
  • 4 nearby higher education institutions
  • Several highly regarded medical facilities in the city
  • One of the few cities with an NFL,NBA, and MLB team
The Lumen 4_Property for Sale
The Lumen 4_Property for Sale

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Last updated
Nov 30, 2022