JLL Capital Markets has been engaged by Playhouse Square Foundation to exclusively market for sale The Lumen, a 318-unit Class-A high-rise multi-housing building in downtown Cleveland, Ohio, with anticipated pricing of $500,000 a unit.
The Lumen was developed in partnership with Hines, a global real estate development firm founded in 1957 with presence 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 range, floor-to-ceiling windows, spacious closets and full-size washers and dryers. The community amenities include collaborative workstations, bike storage and repair station, electric car charging stations, an outdoor terrace and heated pool, a community dining area, a rooftop lounge, a state-of-the-art fitness center and a yoga studio.
Located at 1600 Euclid Ave., The Lumen offers highway accessibility with a four-minute drive to I-90 and a five-minute drive to I-71. The property is proximate to more than 20 colleges and universities, including Case Western Reserve University, John Carroll University, Kent State University, The University of Akron and Cleveland State, as well as industry-leading healthcare, such as Cleveland Clinic, University Hospitals and Metro Health.
The JLL Capital Markets Investment Sales Advisory team representing the seller is being led by Executive Managing Director Matthew Lawton, Managing Director Mark Stern, Managing Director David Gaines and Analyst Franklin Eruo.
