312-935-1037
720 S Wells St, Chicago, IL for Sale
Apartments - FOR SALE
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null | Request Cap Rate

720 S Wells St
Chicago, IL 60607
South Loop


HIGHLIGHTS

  • 452-unit, 29-story high-rise totaling ±458,500 SF with modern construction (2018)
  • Recently constructed asset with durability, minimal near-term capital needs, and long-term hold appeal
  • On-site retail enhances tenant experience and provides additional income potential
  • Efficient vertical design on ±1.09 acres with DX-12 zoning enabling long-term value preservation
  • Wide-ranging unit mix from studios to 3-bedroom layouts (±451 SF to 2,123 SF) capturing broad renter demand
  • Resort-style pool, state-of-the-art fitness center, roof terrace, controlled access, and expansive resident offerings

OVERVIEW

A 452-unit, high-rise multifamily asset consisting of one building totaling approximately 458,500 square feet is being offered for sale. The property was constructed in 2018 and rises 29 stories, featuring institutional-quality construction and modern design. The property offers a diverse unit mix ranging from studio to three-bedroom layouts, with unit sizes spanning approximately 451 square feet to 2,123 square feet. Units are individually metered and feature contemporary finishes and full appliance packages. The asset is supported by four passenger elevators and includes structured or surface parking accommodating approximately 230 vehicles. Residents benefit from a full suite of amenities, including controlled access entry, a fitness center, swimming pool, roof terrace, and bicycle storage. The property also includes on-site retail components and 24-hour access, enhancing convenience and livability for tenants. Situated on approximately 1.09 acres and zoned DX-12, the property is designed as a dense, urban multifamily development with efficient land utilization and vertical construction. The asset presents an opportunity to acquire a recently constructed, large-scale multifamily property with modern amenities, high-density design, and a broad unit mix catering to a wide tenant base. The property’s institutional quality and relatively recent construction position it as a competitive offering within its submarket.

FOR SALE DETAILS

PRICE

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# OF UNITS

452

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Cooper

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Hi-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

29

YEAR BUILT

2018

PARKING SPACES

230

LAND DETAILS

LAND ACRES

1.09 AC

LAND SF

47,480 SF

ZONING

DX-12

APN/PARCEL ID

17-16-401-021-0000,17-16-402-050-1192

ASK ABOUT THIS PROPERTY

John JaegerCBRE, Inc.More Info
312-935-1037

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John JaegerCBRE, Inc.More Info
312-935-1037

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.