CHICAGO, IL - Trilogy Multifamily Income & Growth Holdings, a Regulation A+ bond offering sponsored by Trilogy Real Estate Group, announced the acquisition of a 138-unit, Class A multifamily community located in Chicago's famed Logan Square neighborhood.
"We are very excited to have acquired the first property within the Trilogy Multifamily Income & Growth Holdings offering," said Matt Leiter, CFO of Trilogy. "Our capital raise and a rapidly expanding selling group are strong indicators that investors are eagerly seeking investments offering attractive current income with upside potential and we believe this property delivers on both fronts."
The six-story building was built in 2018 and provides 138 studio, one- and two-bedroom apartment homes and 8,800 square feet of fully occupied ground-floor commercial space. The transit-oriented development is only 300 feet from the nearest Chicago Transit Authority train station.
Along with unobstructed city views available from the property's rooftop deck, the apartment community offers many amenities uncommon for an asset its size, such as granite countertops, stainless steel appliances, nickel finish fixtures and in-unit washers and dryers. Some apartment homes also feature large walk-in closets, private terraces and IOTAS smart home technology. Community amenities include an indoor coworking space, modern fitness center, luxury fireplace, grilling stations, a bocce court and a green roof, among others.
Located in Chicago's desirable neighborhood of Logan Square, the property sits in the heart of a vibrant community with an abundant collection of dining, entertainment and employment experiences. Some of the notable employers in the surrounding area include Amazon, Eli Lilly, AbbVie and Boston Consulting Group. Residents are also just one mile south of the 606 Trail, a 2.7-mile community trail that brings together arts, history, design, event and green spaces for all residents.
"Chicago is well-known as one of the most important financial, industrial and cultural centers of the world, with a growth rate more than double that of the United States," continued Leiter. "This population growth, combined with Logan Square's high barrier-to-entry, makes this acquisition an extremely compelling community for both residents and investors."