|Number of units||40|
JONES LANG LASALLE (JLL), as exclusive advisor, is pleased to offer for sale - Pekin & Peoria - a unique 40-unit legacy, brownstone property that offers immediate scale in the dynamic and popular neighborhood of Uptown, Minneapolis.
The Offering presents the extraordinary opportunity to acquire several assets in a condensed, high-barrier-to-entry market, where trades of classic, brownstone properties are few and far between. Professionally managed by industry experts for over 20+ years, the properties have been well-maintained, with several improvements and capital expenditures utilized to preserve the historic charm and attractiveness to tenants. With significant rental upside through strategic in-unit renovations and historically low-financing available, an investor can make a significant entry into the Uptown market or add management efficiencies to an already existing portfolio.
Value Add Potential
Due to the thorough upkeep of the common areas, a new owner can immediatley renovate the units for a prompt increase in rents.
Attractive going-in basis well below today's high replacement costs with the ability to place historically low financing to maximize cash-on-cash returns.
Supply constrained Uptown neighborhood.