JLL Capital Markets has been hired by the Playhouse Square Foundation to exclusively market for sale The Lumen, a 318-unit Class A multi-unit apartment building in downtown Cleveland, Ohio, with an expected price tag of $500,000 l ‘unity.
The Lumen was developed in partnership with Hines, a global real estate development company founded in 1957 and present in 255 cities and 27 countries.
Built in 2020, the property consists of one, two and three bedroom units featuring stainless steel appliances, quartz kitchen countertops, high gloss cabinetry, gas stove, bay windows. windows, spacious closets and washers and dryers. Community amenities include co-working stations, bike storage and repair station, electric car charging stations, outdoor patio and heated pool, community dining room, rooftop lounge, center state-of-the-art fitness and yoga studio.
Located at 1600 Euclid Ave., The Lumen offers freeway access a four-minute drive from I-90 and a five-minute drive from I-71. The property is near more than 20 colleges and universities, including Case Western Reserve University, John Carroll University, Kent State University, University of Akron and Cleveland State, as well as state-of-the-art health care, such as the Cleveland Clinic, University Hospitals and Metro Health.
JLL Capital Markets’ investment sales advisory team representing the seller is led by Executive Managing Director Matthew Lawton, Managing Director Mark Stern, Managing Director David Gaines and Analyst Franklin Eruo.