The Edison

Posted: 10/14/2019
PRIVATE LISTING
223 Units
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About

About The Edison

Cushman & Wakefield, as exclusive advisor, is pleased to present The Edison Apartments, a truly unique value-add opportunity in Chicago’s Edgewater neighborhood. Originally built in 1925 as a luxury hotel to service Chicago’s wealthiest tourists, the building was converted into apartments to include studio, one- and two-bedroom apartments. In 2017, current ownership started a renovation and repositioning program that included a complete overhaul of base building systems, extensive façade repair, strategic addition and reconfiguration of amenity space and renovation of unit interiors.  Edgewater continues to be an up-and-coming neighborhood in Chicago. With easy access to transit, Lake Michigan, renowned universities, and major employers, The Edison is perfectly located for today’s millennial renter who wants to be in the epicenter of new restaurants, bars, and entertainment while not being burdened with the cost of living downtown. The Edison presents new ownership an excellent opportunity to finish the remaining unit renovations while taking advantage of market rent growth in first turn renewals and new lease executions. New development in the surrounding area continues to push market average rents up, with new, class A rents exceeding $3.00 per square foot.

  • UNIQUE, PROVEN VALUE-ADD OPPORTUNITY
  • DYNAMIC NEIGHBORHOOD THAT CONTINUES TO RISE
  • PROVEN VALUE-ADD STRATEGIES EXECUTED IN SUBMARKET
  • NEW ‘CLASS A’ DEVELOPMENTS PUSHING RENTS
  • STRONG UNIT MIX APPEALS TO CHICAGO’S NEIGHBORHOOD RENTER
  • TRANSIT-ORIENTED LOCATION

For access to confidential documents, please register at: theedison-cushwake.com