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JLL Markets Class A Cleveland Rentals
JLL Capital Markets has been engaged by Playhouse Square Foundation to market for sale The Lumen, a 318-unit, Class A, high-rise rental building in downtown Cleveland. Pricing of $500,000 per unit, or approximately $159 million, is anticipated.
Located at 1600 Euclid Ave., The Lumen was developed in partnership with Hines. The property was built in 2020, and 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 JLL Capital Markets Investment Sales Advisory team representing the seller is being led by executive managing director Matthew Lawton, managing directors Mark Stern and David Gaines and analyst Franklin Eruo.
“The Lumen is one of the finest multi-housing communities I have seen in my career.” said Lawton. “With its spectacular execution, the property transcends the Cleveland marketplace.”
- ◦Sale/Acquisition


