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Key Facts

Building Area
Number of units 40

Property Description

JONES LANG LASALLE (JLL), as exclusive advisor, is pleased to offer for sale - Pekin & Peoria - a unique 40-unit legacy, brownstone property that offers immediate scale in the dynamic and popular neighborhood of Uptown, Minneapolis.

The Offering presents the extraordinary opportunity to acquire several assets in a condensed, high-barrier-to-entry market, where trades of classic, brownstone properties are few and far between. Professionally managed by industry experts for over 20+ years, the properties have been well-maintained, with several improvements and capital expenditures utilized to preserve the historic charm and attractiveness to tenants. With significant rental upside through strategic in-unit renovations and historically low-financing available, an investor can make a significant entry into the Uptown market or add management efficiencies to an already existing portfolio.

Investment Highlights

Value Add Potential

Due to the thorough upkeep of the common areas, a new owner can immediatley renovate the units for a prompt increase in rents.

Maximize Returns

Attractive going-in basis well below today's high replacement costs with the ability to place historically low financing to maximize cash-on-cash returns.

Dynamic Location

Supply constrained Uptown neighborhood.

Last Updated Date: 15 Sep 2020
Jacob Frishman
Jacob Frishman
Dan Linnell
Dan Linnell
Senior Director, Capital Markets

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Last Updated Date: 15 Sep 2020

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