JLL Capital Markets Closes $ 53 Million Sale of Newly Built 274-Unit Mid-Size Apartment Building in Brewery District of Milwaukee
CHICAGO, IL – JLL Capital Markets announced today that it has completed the $ 53 million sale of Vim + Vigor, a new 274-unit multi-unit community in the brewing district of Milwaukee, Wisconsin.
JLL marketed the property on behalf of the seller, Milhaus Development and The Davis Companies. Weidner Apartment Homes acquired the property.
Vim + Vigor was completed in 2019 and was over 90% leased at closing. The property includes two apartment studio buildings, one, two and three bedroom units ranging from 376 to 1,340 square feet, as well as 7,050 square feet of retail space on the ground floor, a 237-space garage. with additional surface parking and a large set of construction equipment. Apartments feature a range of floor plans, 9-100ft ceiling heights, sleek kitchen designs with stainless steel appliances and quartz countertops, premium bathroom finishes, wood and concrete style floors, plenty of storage space in the unit, patios and balconies and washers and dryers in the full size unit. The community offers a backyard with barbecue grills and fire pit, conference rooms, a home brewing studio, and a 24/7 fitness center with a yoga and Pilates studio. Buildings are upgraded with keyed access and new technology systems everywhere.
Located at 1303 North 10th St. and 926 West Juneau Ave., Vim + Vigor is located in the thriving Milwaukee Brewery District, the site of the former Pabst Brewing Company. Located between I-43 and the Fiserv Forum and the Deer District, the now vibrant mixed-use neighborhood embraces a famous past, sustainability and modern urbanism to create an authentic living-work-play neighborhood radiating old-world charm. world. Residents enjoy a fully pedestrianized neighborhood, with easy access to surrounding universities, gym / concert halls, employers, major highways, and some of Milwaukee’s best local shopping, dining, and entertainment. Everything in the desirable Whitestown neighborhood of Milwaukee is a 20 minute walk from the property.
The JLL Capital Markets investment sales advisory team that represented the seller was led by Senior Director Wick Kirby and Director Amanda Friant, as well as Senior Managing Director Jaime Fink.