JLL Income Property Trust announced on October 10, 2024, the sale of 180 North Jefferson, a 28-story apartment community in downtown Chicago. This disposition is part of the trust's long-term strategy to reinvest capital at opportunistic points in the market cycle.
The 274-unit property in Chicago's West Loop neighborhood had recently undergone a renovation of all units and significant upgrades to common area amenities. The sale allowed the trust to capture these value enhancements and free up capital.
The proceeds from this sale will be used to pursue investments in higher-yielding properties, particularly suburban, garden-style apartment communities in highly rated school districts, aligning with a proprietary, research-led investment theme. JLL Income Property Trust has completed approximately $1.1 billion in dispositions across 47 properties since 2013.
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