IMD Multifamily Investment Opportunity

Posted: 3/7/2019
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About IMD Multifamily Investment Opportunity

The Cushman & Wakefield Midwest Multifamily Advisory Group has been selected as exclusive agent for the recapitalization of three investment opportunities at the Illinois Medical District. This opportunity consists of a recently renovated 410-unit core plus asset, a new, ground-up multifamily development and an entitled parcel of land for future development. The sponsorship team includes Atlantic Realty Partners and Focus Development. From 2016-2018, they executed a comprehensive rehabilitation and renovation of the existing building including the construction of a new, 8,000 SF amenity pavilion and exterior resort-style pool deck and amenity space. In addition, the team was able to secure support from the 28th Ward Alderman Jason Ervin, the neighboring community to successfully re-entitle the property and enable new multifamily development at Ashland and Taylor (South Parcel) and Ashland and Polk (North Parcel). The Illinois Medical District has seen an unprecedented amount of investment recently and shows no signs of slowing. This offering is an outstanding opportunity to own one of the only core plus multifamily assets in the area and be a part of the first new multifamily development since 1983. Future development can be tailored to include office, retail, hospitality and/or multifamily.