Offering Summary
Jones Lang LaSalle Americas (Illinois), L.P. (“JLL”) is pleased to present Eleven33, a newly built 263-home luxury apartment community perfectly located in the heart of Suburban Chicago’s prestigious Oak Park. The trophy property sets the bar for luxury living with its breathtaking views, artful interior design and top-of-market amenities, coupled with a convenient transit-oriented location steps from the Metra & CTA Green Line. Boasting a 98 walk score, Eleven33 offers easy access to an array of dining options, entertainment, and high-end grocery stores, including Trader Joe’s and Whole Foods Market, right at its doorstep.
Oak Park, located 10 miles west of downtown Chicago, provides residents with the best of both worlds - a peaceful suburban lifestyle with access to all the amenities and opportunities of a city center. This well established neighborhood attracts a diverse blend of young professionals, families, and empty nesters who prefer its urban-suburban ambiance, historical architectural & cultural destinations, top-rated schools, and fantastic selection of shopping and dining options. Ideally located at the intersection of Harlem & South Boulevard in Oak Park’s coveted Pleasant District, Eleven33 enjoys close proximity to Chicagoland’s top employers and access to transit, eclectic dining, shopping, and entertainment that’s unmatched in suburban Chicago.
Recent Oak Park government sentiment surrounding new multifamily development has stifled the supply pipeline, with only one Class A building under construction. Eleven33 will continue to capitalize on the limited supply pipeline and increased demand for luxury living without the steep cost of home ownership, offering investors a steady stream of future cash flows.
Investment Highlights
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Oak Park – A+ Suburb known as the “World’s Largest Village”
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Irreplaceable Urban-Suburban Location in downtown Oak Park’s Historic Pleasant District
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Charming Birthplace of Ernest Hemingway and Stunning Frank Lloyd Wright Architecture
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Top-Ranked Schools
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- Transit-Oriented Development with Unrivaled Accessibility
- Suburban TOD adjacent to Chicago’s “L” Train and Commuter Metra Line
- 98 Walk Score
- Steps to Whole Foods, Target, and Trader Joe’s
- Endless Boutiques, Dining, and Entertainment Options
- Closest Suburban Location to Burgeoning West Loop /Fulton Market
- Proximate to the Illinois Medical District
- Top Market for Rent Growth and Operational Fundamentals
- High Barriers to Entry and Muted Supply Pipeline Pave the Way for Successful Rent Growth
- Significant YTD Rent Growth
- Less Than 1% of Inventory Under Construction Marketwide
- Affluent & Educated Demographic of Renters-By-Choice
- Chic Yet Affordable Destination Luxury
- Excellent Design & Amenities Attract & Retain Residents
- Healthy Rent-to-Income Ratio of 19% Supports Continued Rent Growth
- Available at a Significant Discount to Replacement Cost
- 100% Occupied Retail Space with Credit Medical Tenants
Investment Contacts
Financing Contact
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