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|Number of units||20|
JLL, as exclusive advisor, is pleased to offer for sale Chicago Villas ("the Property"), a 1920’s boutique, vintage, 20-home apartment community located in the Bancroft neighborhood of Minneapolis.
The property is situated in the heart of Minneapolis near 35W, and Uptown - some of the most zestful areas in the entire Twin Cities. From restaurants, such as Turtle Bread Company, Hot Plate, and Revival, to coffee shops like Sovereign Grounds, Starbucks, and Sift Gluten Free, residents have easy access to countless dining options. Furthermore, Downtown Minneapolis is home to one of the nation’s most diverse employment sets, and it is just a short commute from the Property.
Chicago Villas features large unique one and two bedroom layouts encompassed in an unprecedented building featuring vintage attributes such as original woodwork and era specific fixtures. These qualities are accompanied by meticulously maintained common areas and exteriors. The extensive capital expenditures that have been taken care of by the current ownership empowers a new owner to add value to this meticulously maintained property.
Chicago Villas is a unique opportunity to purchase a boutique style community allowing an investor to enter a high growth market at an extremely attractive basis in a highly desirable Minneapolis market.
Premium Building Upgrades
- Extensive renovations conducted on the common areas, numerous capital expenditure items
- 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
- Supply constrained, high-barrier to entry Bancroft neighborhood