AM 1980 is a 132-unit boutique luxury apartment community at the entrance of Chicago’s vibrant Logan Square neighborhood, a market that has outperformed downtown Chicago submarkets over the last 18 months. Conveniently located just steps from the Western Blue Line CTA stop and surrounded by premier retailers, this property is ideally situated to capture demand from a growing demographic of high-income renters in Logan Square; with household income increasing 39% since 2019. Offering immediate access to over 796,000 employees in downtown Chicago and the O’Hare office market via the Blue Line, AM 1980 is perfectly positioned for today’s urban commuter.
GROWING POPULATION OF HIGH-EARNING RENTERS IN LOGAN SQUARE
Average household (HH) income within 0.5 miles of AM 1980 of $178k is 1.6x above the Chicago average. 57% of Logan Square is renter occupied. Average home values have increased 45% since 2019 to $537k.
ROBUST SUBMARKET FUNDAMENTALS
Rents in Logan Square grew 5.5% in 2023 and occupancy averaged 96%. The massive supply/demand imbalance continues to give landlords pricing power.
IDEALLY SITUATED IN A TRANSIT-ORIENTED LOCATION WITH HIGH BARRIERS TO ENTRY
One minute from the Western Avenue Blue Line CTA stop; residents can travel to downtown in 18 minutes and to O’Hare in 35 minutes. Residents also have convenient access to I-94 via Armitage and immediate access to bike trails on Milwaukee Ave.
GROWTH OF LOGAN SQUARE
Thriving retail submarket with 8 grocery chains and 15 Michelin-recognized restaurants. Recent investments include an $88M overhaul of historic
Congress Theatre, as well as a community plaza with more walking and bike trails, in addition to the popular 606 trail.
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