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

Documents

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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.

Attributes

Year Built 2018
Building Area Net
Occupancy 99.0 %

Asset Description

JLL is pleased to present Oaks of Shorewood, a newly built 101-home luxury 55+ apartment community in the exclusive Village of Shorewood in the North Shore of Milwaukee. Delighting its affluent 55+ demographic, Oaks features spacious condo-quality homes plus endless amenities including an outdoor pool.


Boasting an irreplaceable parkside location, the property is just north of city limits and 10 minutes from downtown Milwaukee. Shorewood ranks #5 Best Place to Live in Wisconsin and is known for premier schools, lush parks, and million-dollar homes along the pristine lakefront.


Proving demand for this unique offering, Oaks is 99% occupied with an above-market 90% renewal rate. A new owner has the opportunity to push rents $500 to match conventional competitors.


This unbeatable opportunity benefits from a TIF reimbursement stream and is available for purchase free and clear of existing debt.

Investment Highlights

Rare Investment Opportunity

  • Only Luxury, Age-Restricted Community in County; No Income Restrictions or Services
  • 7,000 SF of Premier Amenity Space + Pool
  • Neighbors High-Acuity Property
  • $5.5M Current TIF Bond Face Value*

* Bond subject to partial paydown upon sale

Untapped Rent Upside

  • 99% Occupancy; 97% Avg Occupancy Past 2 years
  • Above-Market 93% YTD Retention Rate
  • 9% Trade Outs on Recent Leases
  • Conventional Comps Achieving -$500 Rent Premium

Exclusive North Shore Location

  • #5 Best Place to Live in Wisconsin  
  • $425,0000 Avg Home Value & $112,000 Avg HHI
  • 10-Min Drive Downtown
  • Parkside Location Near Oakland Ave Shops & Dining
Last Updated Date: 22 Aug 2022

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Last Updated Date: 22 Aug 2022

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