Evoni Apartments — Sale in Milwaukee, WI

  • Price: $174K
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Milwaukee, WI 53202
  • Size: 219,166 SF
  • Year built: 2025

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Description

Jones Lang LaSalle Americas (Illinois), L.P. (JLL) is pleased to present Evoni, a newly built 261-home, 5-story, apartment community in Milwaukee’s Historic Third Ward—the most desirable and dynamic neighborhood in the city. Delivered in 2025, Evoni offers thoughtfully designed studio through three bedroom penthouse layouts and top-of-the-line finishes. Residents enjoy luxury amenities including an outdoor pool & hot tub, rooftop lounge, co-working spaces, pet park, and fitness center. Demand for Evoni’s elevated living and exceptional location is evidenced by its rapid 18-month lease up, 94% occupancy today, and 13% effective rent growth on the last 50 leases signed since May. Just one block south of downtown, the Historic Third Ward transformed from a warehouse district to Milwaukee’s top destination for arts, festivals, shopping, and dining. As one of Milwaukee’s most popular neighborhoods, the Third Ward is the 5th best Arts District in the US and features 400 businesses, million dollar river front condos, a global award-winning River Walk, and the world-renowned Summerfest Music Festival just outside Evoni’s front door. Milwaukee’s downtown is home to the MSA‘s largest employers including Northwestern Mutual, Manpower Group, Fiserv, Baird, Rockwell Automation, and Harley-Davidson. Given high barriers to entry, the Downtown apartment market boasted 95% occupancy and 3% effective rent growth in 2Q26 per Costar with no deliveries or construction starts since Evoni delivered in 2025. As a top luxury rental choice in Milwaukee's most affluent and vibrant neighborhood, Evoni is well-positioned for continued rent growth. The property is available free and clear of existing debt.

Market Context

This multifamily in Milwaukee, WI is listed for sale at $174,000 across 219,166 SF. The building dates to 2025. Compare it against other multifamily listings for sale in Milwaukee, WI — view the full market.

As of Q1 2026, the Milwaukee multifamily market showed a 16.2% vacancy rate. Source: Cushman & Wakefield Q1 2026 market report.

Above-average vacancy gives buyers leverage and a wide set of comparables.

Multifamily market FAQ

Is the Milwaukee multifamily market tightening or softening?
Vacancy is around 16.2% (Q1 2026).

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