Insomnia Cookies + (3) 4BR/2BA Apartments 1335 W Taylor St

Turnkey new construction investment centrally located on the Taylor Street corridor between Illinois Medical District to the West and University of Illinois Chicago to the East. 2019 construction with a desirable unit-mix, modern in-unit amenities and luxury finishes including in-unit laundry, granite countertops, individual HVAC, private balconies, etc. The first floor is leased to a national tenant – Insomnia Cookies – on a new 10-year net lease providing stable, long-term cash flow. Value-add potential with increases in rent to reflect recent rental comps in the area , finishing out the rooftop deck and monetizing the basement storage area. Low expense ratio with Insomnia responsible for 50% of the property taxes and building insurance.
Local Economic Drivers:
Illinois Medical District - 560 acres, 29,000 employees and 50,000 daily visitors. Generated $3.4 billion in economic opportunity. Largest medical district in North America with four major hospitals – Jesse Brown VA Medical Center, Rush University Medical Center, Stroger Hospital of Cook County, and University of Illinois Hospital.
University of Illinois Chicago (UIC)- UIC is the largest university in the Chicago Metro Area with 22,000 undergrad and 12,000 postgrad students. There are no on-campus housing requirements. Only 50% of freshman live in on-campus housing.