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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
CONTACT Info
125 South Wacker Drive STE 400
Chicago, IL 60606
Phone: 312.845.8500
Chicago Office
Mortgage Banking
UNLIMITED, WHOLLY UNIQUE OPPORTUNITY:
Durable Occupancy Levels Due to Unmatched Location | Desirability | Rare Affordable Housing Angle
Significant Tax Benefits with Existing Affordability Designations
100% Scalable Value-Add Component to Amplify Leveraged Returns
Truly 360° Renter Pool — Urban Chicago Luxe Lifestyle Seekers | High-Earners — 100,000+ Students Attending Chicago’s 26 Close-Proximity Universities, Including: University of Illinois - Chicago (UIC) + The Art Institute of Chicago — Limited-Income Seniors
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PETE EVANS
Senior Managing Director 847.226.0836 | pete.evans@berkadia.com
richard evans
Senior Director
773.991.3321 | richard.evans@berkadia.com
MATTHEW NAPOLEAN
Senior Managing Director 614.584.3004 | matthew.napolean@berkadia.com
INVESTMENT SALES
two-PROPERTY multifamily investment opportunitY on chicago’s historic south michigan avenue in downtown chicago, illinois
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SKY55 + 1251’S COMPETITIVE ADVANTAGES:
DEFINITION OF WALKABILITY: CTA | Jewel-Osco | Trader Joe’s | Target | Grant Park | Lake Michigan | Michelin ★ Restaurants | Museum Campus | Lakefront Trail | Soldier Field | “The Bean” | Events: Lollapalooza, Taste of Chicago, Jazz Festival, Blues Festival (World’s Largest) — Walker’s Paradise®: 95 | Transit / Rider’s Paradise®: 97
Epicenter of the City's Most Popular Events: Lollapalooza, The Taste of Chicago, Chicago Blues Festival (Largest in the World), Chicago Jazz Festival
Proximate Public Transport: Chicago "L" Green & Orange Lines (0.2 mi), Roosevelt Station (0.2 mi), Museum Campus Metra (0.4 mi), Harrison Station (0.7 mi), Chicago LaSalle Station Commuter Rail (1 mi), Chicago Union Station (1.6 mi)
Perfect Commercial Mix: Sky55 + 1251’s Combined 6,461 SF of Street-Level South Michigan Avenue Commercial Space is 100% Occupied By a High-Quality Tenant Mix Ideal for a Large Urban Apartment Property:
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sky55
39-STORY LUXURY TOWER: 80% Market Rate | 20% Affordable Units
1251 South michigan
11-STORY HIGH-RISE SENIORS LIVING: 100% Affordable ( 60% AMI )
2006
year built
980
AVG UNIT SIZE
411
UNITS
2006
year built
570
AVG UNIT SIZE
91
UNITS
brandon grisham
Senior Managing Director 253.653.3313 | brandon.grisham@berkadia.com
mike terry
Director
425.761.1640 | mike.terry@berkadia.com