Strong Operations Out of the Gate
In July, Metonic closed on 3140 Clybourn, a luxury new-build apartment community in Chicago, Illinois. Metonic purchased the property directly from the developer, leveraging a long-standing relationship that created a unique opportunity not available on the open market. Acquired through a 1031 exchange, 3140 Clybourn has performed well since its acquisition four months ago. The transition of management went smoothly, with the existing property management team, Peak Properties, retained to maintain continuity. As of today, the community is nearly fully leased, with all but one unit occupied.
3140 Clybourn is achieving a +3.5% average lease trade-out, reflecting healthy demand in the supply-constrained Roscoe Village submarket. Chicago’s broader multifamily fundamentals remain promising, with 95% occupancy across the market. Featuring an elevated design, prime location, and strategic amenity mix, 3140 Clybourn is positioned to benefit from the city’s steady demand for high-quality rental housing.
Luxury Apartment Homes
The community features 39 thoughtfully crafted one-, two-, and three-bedroom residences, complete with high-quality finishes and access to a curated mix of modern amenities.
Community Amenities
— Fitness Center
— Rooftop Community Space
— On-Site Parking
— Bike Parking
Apartment Amenities
— Private Balcony/Terrace*
— Floor-to-Ceiling Windows
— High-End Finishes
— Stainless Steel Appliances
— In-Unit Laundry
— Quartz Countertops
*in select units
Commerical Space Buildout
The ground-floor commercial space is slated to become the second location of ChooChoo Chicago, a well-established daycare operator serving Chicago families. The tenant plans to begin its build-out in the near future and is targeting a Summer 2026 opening. Beyond the added revenue, this will provide residents with a highly convenient childcare option steps from home.