JLL is proud to present investors the opportunity to acquire 1044 Main Street (Peck’s Plaza), a 13-story office building consisting of 92,400 square feet and 61 on-site parking spaces, ideally located in the heart of downtown Kansas City. The property was built in 1914 and may qualify for certain state and federal historic preservation tax credits. New ownership can pursue zoning and permitting for development of multi-housing. In anticipation of a conversion, the previously existing office leases are set to expire between June 2021 and June 2022.
Positioned in downtown Kansas City, the property is centrally located at the intersection of Main Street and West 11th St. The immediate area consists of a multitude of dining options, office buildings, and downtown KC attractions. Additionally, it is immediately North of the Power & Light District, a marquee redevelopment that covers six blocks and has an abundance of restaurants, bars and entertainment options.
1044 Main Street offers investors the unique opportunity to acquire a beautiful building with the ability to reposition the asset for residential use in the growing downtown Kansas City market.
Premier Downtown KC Location
· 93 walk score
· Steps from KC Street Car stop
· Nearby to Power & Light District
In-Demand Building Characteristics
· Property-controlled parking
· Manageable size for conversion
· Efficient building layout
Desirable Central KC Submarket
· Plethora of employment options
· Strong growth potential
· Low cost of living
Strong Area Demographics
· Impressive population growth
· Young median age
· High earners
· Significant renter population base
Potential Economic Incentives
· Urban renewal area incentives
· MO state historic tax credits
· Federal historic tax credits