Offering
Jones Lang LaSalle Americas (Illinois), L.P. (“JLL”) is pleased to present The Deco, a rarely available opportunity to acquire a generational 389-home luxury lakefront apartment community perfectly situated in Chicago’s vibrant Gold Coast neighborhood. The waterfront property offers residents breathtaking views, encapsulating design, and desirable amenities promoting a life of luxury and incomparable convenience, including immediate access to Chicago’s 18-mile lakefront trail, Magnificent Mile, Navy Pier and Gold Coast’s famous nightlife scene.
Investment Highlights
Irreplaceable Lakefront Asset
- A combination of old-world charm & new-world luxuries in a mesmerizing Art Deco building
- Unobstructed panoramic lake and skyline views
- Convenient floor plan optionality from studios to 3 bedroom homes
- Newly renovated apartments
- Completely refreshed amenities
- Iconic Lake Shore Drive address
Lavish Gold Coast Location
- Steps from the lakefront and Gold Coast’s vibrant entertainment scene
- Affluent Gold Coast Neighborhood residents earn an impressive household income of $198K
- Dynamic Live-Work-Play location
- Plethora of transportation options (CTA train and bus lines, bike rental stations, direct parkway access)
Generational Opportunity
- Effective rents on last 20 leases signed achieving $2.91, a 15%+ increase over in-place rents
- Verified value-add upside achieving ~$390 (25+% premiums over in-place rents)
- No future lakefront supply pipeline
- Available at a significant discount to replacement cost
- Unmatched high barrier address
- Rare asset in Chicago's preeminent Gold Coast
Investment Contacts
Although information has been obtained from sources deemed reliable, JLL does not make any guarantees, warranties or representations, express or implied, as to the completeness or accuracy as to the information contained herein. Any projections, opinions, assumptions or estimates used are for example only. There may be differences between projected and actual results, and those differences may be material. JLL does not accept any liability for any loss or damage suffered by any party resulting from reliance on this information. If the recipient of this information has signed a confidentiality agreement with JLL regarding this matter, this information is subject to the terms of that agreement. ©2023. Jones Lang LaSalle IP, Inc. All rights reserved.
