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|Building Area Gross||
|Number of units||76|
|Call for Offers||2022-04-01|
JLL is pleased to present Freshwater Apartments, a 76-unit mixed-use apartment building in the vibrant Harbor District on the eastern edge of Walker’s Point in downtown Milwaukee. As part of Freshwater Plaza, the apartments are steps to full-service grocer, Cermak Fresh Market and brand new developments including UW-Milwaukee School of Freshwater Sciences and machinery manufacturer Komatsu’s new North American headquarters. This award winning boutique property features condo quality apartments, right-sized community amenities, eco-friendly features, and ground-floor amenity retail.
Since completion in 2017, Freshwater has remained highly occupied (currently 100%) and is posting 10% average rent growth on recent new leases signed. A future owner will benefit from both organic growth from this burgeoning neighborhood and upside from the finalization of the retail lease-up, potential community enhancements, and the conversion of 15 income eligible units (80% of AMI) to market rate. The unbeatable opportunity is available all cash.
+ Path-of-growth Harbor District neighboring Walker's Point
+ Steps to both a Fortune 500 company and exciting new developments including Rockwell Automation headquarters, the new UW-Milwaukee School of Freshwater Sciences & new Komatsu Campus
+ Ground-floor amenity retail & grocery-anchored Freshwater Plaza
+ Innovative, award-winning community with eco-friendly features
+ Multiple income growth opportunities including retail lease-up, converting Income Eligible (IE) units to market & light value-add enhancements
+ Stellar property performance with 100% occupancy & 10% rent growth on new leases