Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
Cap Rate N/A

Documents

Enter the "Deal room" for exclusive documents related to this property.

I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Year Built 2020
Building Area Net

Property description

Jones Lang LaSalle (“JLL”) is excited to present The Lumen (“The Property”), a beautiful 318-unit, high rise apartment building located in the heart of the downtown Cleveland Theatre District. The property is within walking distance of an abundance of Cleveland’s world class attractions, top ranking universities and colleges, and industry leading healthcare and manufacturing.

Investment highlights

GENERATIONAL ASSET

  • One-of-a-kind, Class A High Rise
  • Distinguished developer - Hines
  • Exceptionally-built asset with jaw-dropping amenities and first class finishes and features


STRONG AREA DEMOGRAPHICS

  • 47% population growth within 1 mile of the property since 2000
  • Median age is 31 within in 1 mile of the property
  • 78% of the workforce is white collar workers
  • 41% Bachelor’s degree of higher in Cleveland


SIGNIFICANT TAX BENEFIT

  • Lumen is subject to long-term tax savings of 30 years
  • 15 years of abated taxes through 2035
  • 15 years of tax savings through Non-School PILOTS from 2036 – 2048


UNBEATABLE LOCATION

  • Fantastic Transit Accessibility
  • 4 nearby higher education institutions
  • Several highly regarded medical facilities in the city
  • One of the few cities with an NFL,NBA, and MLB team
Last Updated Date: 07 Mar 2022

Please enter your corporate email account in the email field. We may not be able to reply to your personal email account or free email address such as Gmail or Yahoo Mail.

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

Jones Lang LaSalle (JLL), together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry, providing information such as our services and events.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

Last Updated Date: 07 Mar 2022

Do you have any questions?  Visit our FAQ page

The value of trust beneficiary rights fluctuates due to fluctuations in the price of real estate, and there is a risk of falling beyond the investment principal. Real estate prices are fluctuated by changes in the population of the area in which they are located and the number of newly supplied properties, fluctuations in interest rates and exchange rates, changes of tax system, loss/damage due to natural disasters such as earthquakes, deterioration over time, and the discovery of hidden defects such as soil pollution.

Please go to the below link for our commitment to compliance (Japanese only).

https://www.joneslanglasalle.co.jp/ja/compliance-with-laws-and-regulations-and-its-representation

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.