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The Cushman & Wakefield St. Louis Capital Market's Team is pleased to offer for sale the 100% fee simple interest in the Butler Brother's building located at 1717 Olive Street in St. Louis, MO. The Butler Brother's building is a premier multifamily/hotel "loft" redevelopment opportunity positioned in the heart of St. Louis' Downtown "Loft District". As-is, the building contains 718,660 square feet and consists of eight stories. A preliminary redevelopment plan includes 342 multifamily units with 397 garage parking spaces and two retail spaces. A portion of the property could also be redeveloped into a hotel that would compliment the residential component.

Fueled by public and private investments, St. Louis is in the midst of a renaissance that is reigniting the growth and vibrancy of the downtown core. Over $8 billion has been invested in downtown since 2000 with $3 billion in development underway or proposed. Among these developments is St. Louis' highly anticipated MLS expansion team's proposed stadium, which is expected to drive significant investments in infrastructure in the surrounding area. Butler Brother's is located just three blocks from the MLS site, offering an exceptionally rare opportunity to acquire one of Downtown St. Louis' last remaining large historic buildings in an area poised for significant growth and long-term appreciation.

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Butler Brothers
   
1717 Olive Street
St. Louis, MO  63103
Posted: 5/20/2019

INVESTMENT HIGHLIGHTS

Partially Renovated with Remaining Upside

Close to Amenities & Lake Springfield

Newbrook (24 units) & Lakeside (36 units) offers residents quick access to shopping & restaurants less than 1 mile away. Additionally, Lake Springfield, with 57 miles of shoreline, is less than 2 miles to the east.

Strong Springfield Employment Centers

Springfield is the state capital which guarantees thousands of jobs in and around the statehouse. The city is home to 3 universities and global leaders in enterprises that include healthcare, manufacturing, business services, tech and more.

Growing Market Fundamentals

Average rents in Springfield increased by 5.9% from 2021 to 2022 contributing to the steady upward trend of 20% rent growth since 2012. Average occupancy is now at 94% and trending up.

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Newbrook & Lakeside
60 Units
2062 Bradley Court
Springfield, IL  62703
Type: Conventional
Posted: 5/26/2022

The Cushman & Wakefield St. Louis Capital Market's Team is pleased to offer for sale the 100% fee simple interest in the Pennant Building located at 1701 Locust Street in St. Louis, MO. The building is a premier multifamily/loft redevelopment opportunity positioned in the heart of Downtown St. Louis' "Loft District". As-is, the building contains 76,120 square feet consisting of four stories and a basement level with an additional 8,883 SF penthouse approved. A preliminary redevelopment plan includes 53 multifamily units, four live/work studios, and 36 garage parking spaces. A full set of plans has been approved and will be provided to the buyer.

Fueled by public and private investments, St. Louis is in the midst of a renaissance that is reigniting the growth and vibrancy of the downtown core. Over $8 billion has been invested in downtown since 2000 with $3 billion in development underway or proposed. Among these developments is St. Louis' highly anticipated MLS expansion team's proposed stadium, which is expected to drive significant investments in infrastructure in the surrounding area. The Pennant Building is located just three blocks from the MLS site, offering an exceptionally rare opportunity to acquire an historic building in an area poised for significant growth and long-term appreciation.

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Pennant Building
   
1701 Locust Street
St. Louis, MO  63103
Posted: 5/20/2019

INVESTMENT HIGHLIGHTS

Partially Renovated with Remaining Upside

Over $4M of capital has been infused into the property. The renovation included exterior upgrades and 83% of the units have full interior upgrades including flooring, cabinets, countertops and appliances.

Close to Amenities & Lake Springfield

Whispering Pines offers residents quick access to shopping & restaurants less than 1 mile away. Additionally, Lake Springfield, with 57 miles of shoreline, is less than 2 miles to the east.

Strong Springfield Employment Centers

Springfield is the state capital which guarantees thousands of jobs in and around the statehouse. The city is home to 3 universities and global leaders in enterprises that include healthcare, manufacturing, business services, tech and more.

Growing Market Fundamentals

Average rents in Springfield increased by 5.9% from 2021 to 2022 contributing to the steady upward trend of 20% rent growth since 2012. Average occupancy is now at 94% and trending up.

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Whispering Pines
263 Units
2473 Ladley Ct
Springfield, IL  62703
Type: Conventional
Posted: 4/12/2022