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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. 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 2020
Building Area Net

Asset Description

Jones Lang LaSalle (“JLL”) is excited to present The Lumen (“The Property”), a beautiful 318-unit, high rise apartment building located in the heart of the downtown Cleveland Theatre District. The property is within walking distance of an abundance of Cleveland’s world class attractions, top ranking universities and colleges, and industry leading healthcare and manufacturing.

Investment Highlights

GENERATIONAL ASSET

  • One-of-a-kind, Class A High Rise
  • Distinguished developer - Hines
  • Exceptionally-built asset with jaw-dropping amenities and first class finishes and features


STRONG AREA DEMOGRAPHICS

  • 47% population growth within 1 mile of the property since 2000
  • Median age is 31 within in 1 mile of the property
  • 78% of the workforce is white collar workers
  • 41% Bachelor’s degree of higher in Cleveland


SIGNIFICANT TAX BENEFIT

  • Lumen is subject to long-term tax savings of 30 years
  • 15 years of abated taxes through 2035
  • 15 years of tax savings through Non-School PILOTS from 2036 – 2048


UNBEATABLE LOCATION

  • Fantastic Transit Accessibility
  • 4 nearby higher education institutions
  • Several highly regarded medical facilities in the city
  • One of the few cities with an NFL,NBA, and MLB team
Last Updated Date: 11 Aug 2022

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Last Updated Date: 11 Aug 2022

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