1400 South Wabash

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Conveniently Located Within Walking Distance to Top Retailers and Iconic Chicago Attractions

Prime location: minutes from renowned Chicago attractions such as Grant Park, Soldier Field, the Museum Campus, and the Lakefront
Convenient Living: Walking distance to national brands Target, Walgreens, Trader Joe's, Dunkin', Pure Barre, and Orangetheory
Commuter Friendly: 5-minute walk to Roosevelt Station, providing access to multiple CTA lines running through the Loop

South Loop Presents the Greatest Opportunity for Rent Growth in Chicago, a Market with Nation Leading Fundamentals

Since 2015, rents in the South Loop have grown a cumulative 34% (Second highest of any Chicago CBD submarket)

Denominator Effect

South Loop rents currently average $284 below other downtown Chicago submarkets
The gap between South Loop rents and those other submarkets has decreased 18% in the last ten years. The tightening of that spread is largely due to the denominator effect
As rents in the South Loop are starting at a lower monthly rent (lower denominator), there presents more opportunity for outsized rent growth
Assets renting at $4.15 psf would require an increase of $0.20 per sf to achieve 5% rent growth, compared to 1400 S Wabash at $3.15 psf only needing $0.15 per sf to achieve the same rent growth (32% difference)

Multifamily supply in Chicago is set to drop 31% in the next four years compared to the 10-year historical average – with South Loop supply down a dramatic 49%

Attainable Luxury Housing Attracting Young Urban Renters

Robust Submarket with High Earning Tenant Base

Median household income of $125,521 within 0.5 miles, with 50.3% of households being renter occupied
63.4% of households earning over $100,000
High earning population projected to outpace new inventory within 0.5mi - 18% growth compared to 3% Class A inventory expansion

Strong operation performance demonstrated by attractive positioning in submarket

Renewals and trade outs averaged 3.28% over the last year, with renewals driving the increase at 5.4% upon renewal
Proven ability to increase income, demonstrated by 12% increase in net rental income and 13% increase in NOI from January to December