JAB Acquired the 81-unit portfolio in one of Chicago’s most desirable neighborhoods, the West Loop. This portfolio is a short walk to the vast dining, nightlife and entertainment offerings of the West Loop and Fulton Market as well as 14.2 million sq. ft. of office. The West Loop Portfolio boasts two retail spaces occupied by Poke Poke and SpaDerma, stunning rooftop decks on each building, indoor garage parking, and private outdoor space for nearly every apartment.
JAB was patient during the historic spike in interest rates of 2022 and 2023, waiting until we believed the rate increases were near a close before we acquired The West Loop portfolio. This allowed us to acquire an asset substantially below replacement cost. JAB also intends to expand the limited commercial space into the expansive garage as well as building a luxury fitness center, creating additional value for tenants and ownership with minimal overall cost.
