Portfolio

The Wicker Park & Western Portfolio

Documents

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I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Building Area Gross
Rentable Area
Number of units 151

Portfolio description

Jones Lang LaSalle Americas (Illinois), L.P. (“JLL”), is pleased to present the Wicker Park and Western Portfolio, a 151-unit mixed-use portfolio located on Milwaukee Avenue in the beautiful neighborhoods of Wicker Park and Logan Square. The Portfolio offers integrated mixed-use retail, residential, and office components which provide an investor the ability to maximize value in one of Chicago’s prime urban neighborhoods. The phenomenal location of this Portfolio is highlighted by exceptional accessibility to transportation, dining, retail, entertainment, and the greater Chicagoland area.


​​​​​​​The Portfolio offers a perfect mix of retail, residential and office components allowing investors to diversify their holdings while building scale in Chicago's top neighborhoods. The opportunity is available at a discount to replacement cost due to rising construction costs, changes to the Affordable Requirements Ordinance (ARO), lack of available construction sites, and significant barriers to entry. A new buyer will have the opportunity to add value through the lease up over 4,000 SF of premier Milwaukee Avenue retail space and continuing to enjoy the organic rent growth of 17% trade outs on average throughout the portfolio. This unique and rare opportunity can be purchased together as a portfolio or each deal individually and is available on a free and clear basis.

Investment Highlights

  • ​​​​Perfectly Positioned In The Heart Of Wicker Park & Logan Square 
  • Phenomenal Transit-Oriented Location (99 Walk Score) 
  • Investors Can Purchase Assets Together as a Portfolio or Individually 
  • Fantastic Property Performance - 17% Average Trade Outs 
  • Access To Top Chicago Employers And Fortune 500 Companies 
  • Immediate Scale In High Barrier to Entry Submarket 
  • Value-Add Upside - Over 4,000 SF Of Prime Vacant Milwaukee Ave Retail Space 
  • 5-Year Projected Average Occupancy - 95% 
  • Boutique Investment Size 
  • Limited New And Future Supply 
  • Available Free And Clear 


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The Wicker Park & Western Portfolio (3 Properties)
The Western
Chicago, IL, United States
Wicker Park
Chicago, IL, United States
1241 N Milwaukee Ave
Chicago, IL, United States
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Last Updated Date: 02 Sep 2022

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