Mount Royal Manor Offering Memorandum
Mount Royal Manor is a 114 unit apartment community located in the Chester Park neighborhood of Duluth, Minnesota. The seven-story building gives tenants picturesque and unparalleled views of the University, downtown Canal Park, and Lake Superior, creating a true North Shore experience for residents.
Mount Royal Manor is a 114 unit apartment community located in the Chester Park neighborhood of Duluth, Minnesota. The seven-story building gives tenants picturesque and unparalleled views of the University, downtown Canal Park, and Lake Superior, creating a true North Shore experience for residents.
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MARKET OVERVIEW<br />
<strong>Mount</strong> <strong>Royal</strong> <strong>Manor</strong><br />
Duluth, Minnesota Overview<br />
propertyname<br />
The Duluth-Superior metro is located along the north shore of Lake<br />
Superior, at the westernmost point of the Great Lakes. The lake as well<br />
as nearby state and national parks and forests draw a multitude of<br />
visitors to the region for a wide range of outdoor activities. The metro<br />
consists of St. Louis and Carlton counties in Minnesota and Douglas<br />
County in Wisconsin. Duluth is the most populous city in the region with<br />
196,600 residents and is the seat of St. Louis County. Residents of the<br />
city are well educated with nearly 33 percent holding a bachelor’s<br />
degree, well above the U.S. level of 29 percent.<br />
Duluth<br />
OVERVIEW<br />
METRO HIGHLIGHTS<br />
TOURIST DESTINATION<br />
A variety of natural features as well as the Great Lakes Aquarium, Canal Park,<br />
Lake Superior Railroad Museum and the Glensheen Mansion draw visitors.<br />
MARKET OVERVIEW<br />
PORTS<br />
The combined facilities in Duluth, Minnesota, and nearby Superior, Wisconsin,<br />
form the largest port on the Great Lakes, shipping commodities worldwide.<br />
The University of Minnesota Duluth, College of St. Scholastica, Lake Superior<br />
College, University of Wisconsin-Superior and Wisconsin Indianhead Technical<br />
College are all located within the metro.<br />
ECONOMY<br />
• A large tourism industry is underpinned by Lake Superior and the many state and national parks and<br />
forests nearby. The region offers an abundance of outdoor activities and is also the gateway to the<br />
North Shore and the Boundary Waters Canoe Area.<br />
• Aviation is a sizable component of the economy. Cirrus Aircraft is headquartered and manufactured<br />
in Duluth. Kestrel Aircraft, AAR Corp., Monaco Air, the 148 th Air National Guard and the Duluth<br />
International Airport also provide jobs in the area.<br />
• Other major economic drivers include healthcare, manufacturing, data centers and<br />
logistics/transportation.<br />
DEMOGRAPHICS<br />
2016<br />
POPULATION:<br />
280K<br />
Growth<br />
2016-2021*:<br />
1.5%<br />
2016<br />
HOUSEHOLDS:<br />
117K<br />
Growth<br />
2016-2021*:<br />
2.2%<br />
2016<br />
MEDIAN AGE:<br />
40.9<br />
U.S. Median:<br />
37.7<br />
2016 MEDIAN<br />
HOUSEHOLD INCOME:<br />
$61,800<br />
U.S. Median:<br />
$57,200<br />
* Forecast<br />
Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau<br />
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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are<br />
approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future<br />
performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 Marcus & Millichap ACT ID Y0510304
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