JLL is pleased to present Oaks of Shorewood, a newly built 101-home luxury 55+ apartment community in the exclusive Village of Shorewood in the North Shore of Milwaukee. Delighting its affluent 55+ demographic, Oaks features spacious condo-quality homes plus endless amenities including an outdoor pool.
Boasting an irreplaceable parkside location, the property is just north of city limits and 10 minutes from downtown Milwaukee. Shorewood ranks #5 Best Place to Live in Wisconsin and is known for premier schools, lush parks, and million-dollar homes along the pristine lakefront.
Proving demand for this unique offering, Oaks is 99% occupied with an above-market 90% renewal rate. A new owner has the opportunity to push rents $500 to match conventional competitors.
This unbeatable opportunity benefits from a TIF reimbursement stream and is available for purchase free and clear of existing debt.
Rare Investment Opportunity
- Only Luxury, Age-Restricted Community in County; No Income Restrictions or Services
- 7,000 SF of Premier Amenity Space + Pool
- Neighbors High-Acuity Property
- $5.5M Current TIF Bond Face Value*
* Bond subject to partial paydown upon sale
Untapped Rent Upside
- 99% Occupancy; 97% Avg Occupancy Past 2 years
- Above-Market 93% YTD Retention Rate
- 9% Trade Outs on Recent Leases
- Conventional Comps Achieving -$500 Rent Premium
Exclusive North Shore Location
- #5 Best Place to Live in Wisconsin
- $425,0000 Avg Home Value & $112,000 Avg HHI
- 10-Min Drive Downtown
- Parkside Location Near Oakland Ave Shops & Dining