2852-2856 N Southport Ave
Chicago, IL 60657

EXCEPTIONAL APARTMENT MARKET The demand for residential rental units in Lakeview is consistently outpacing the current sup-ply. While Chicago developers delivered a record 4,500 downtown rental apartments in 2017, growth in the North Side community of Lakeview has lagged noticeably behind the curve as the submarket has very high barriers to entry, especially for projects of a large scale. Over the past three years Lakeview has only delivered a combined 600 new units, representing less than 4% of the total multifamily growth in the Chicago market. Lakeview is on pace to account for just 4-5% of the total rental deliveries expected in 2018 and 2019. WRIGLEYVILLE DEVELOPMENT Over the last couple of years, Wrigleyville, just north of the Property has experienced more than $800-million invested in real estate and infrastructure in and around the Chicago Cub’s home ballpark. Newcomers to Wrigley include new apartments, hotel and mixed-use projects. DIAG/WINE BAR = LOCAL STAPLE Diag Bar & Grill/404 Wine Bar have a strong and loyal customer base as exhibited by their strong sales. Diag has a sizeable patio and has become a local staple that draws a wide variety of patrons who enjoy watching NCAA sport-ing events and rooting for their favorite “Wolverines” at this University of Michigan themed bar. Diag is the official sponsor for the University of Michigan Alumni Club of Chicago, made up of over 25,000 University alumni, and hosts viewing parties for all Michigan sporting events. EXCELLENT DEMOS + TRANSIT The average household income within a quarter mile of the Property is greater than $185,000, which is among the top 92-percentile in average household incomes across the United States and the population within one-mile exceeds 70,000. The property is located within a 10-minute walk from the brown and purple line CTA train station on Diversey Avenue and is served by multiple bus lines within the immediate area. Lakeview was voted the “#2 Chicago Neighborhood for Millennials” on the premise of the area’s walkability, bikability, and public transit options. EDUCATIONAL INSTITUTIONS There are 13 schools located within 1.5 miles of the property. Notable institutions include Lincoln Park High School and numerous campus sites for DePaul University such as: The School of Nursing, School of Music, School of Art, and the university’s McGrath-Philips Arena for sporting events and other attractions. With nearly 23,000 students, and for the last two consecutive decades, DePaul University has been the largest Catholic university in the nation and enrollment numbers show no signs of slowing down. LINCOLN YARDS DEVELOPMENT Sterling Bay is transforming the former Finkl Steel plant and other nearby industrial sites into Lincoln Yards. This development will include new offices, hotel rooms, park space and an entertainment district. Included in this expansion, Sterling Bay is teaming up with Chicago Cubs owner Tom Ricketts to bring a United Soccer League expansion team to the Chicago River’s North Branch, along with a newly developed 20,000-seat stadium.