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Chicago Hyde Park – Value-Add Multifamily
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Completed Projects
Chicago Hyde Park – Value-Add Multifamily
Santa Monica – Micro Unit Multifamily Development
June 11, 2017
Chicago Area Schaumburg – Note Sale, Foreclosure, and Value-Add Multifamily
June 11, 2017
Deal Highlights
Purchased REO condo units in Class A location in Chicago
Selling bank provided acquisition debt financing at 75% LTC
Located directly next door to President Obama’s private residence and 5 blocks from University of Chicago
Property operating at 100% occupancy 3 months after acquisition
Increased rents at renewal and leased out all parking spots to achieve higher than projected rents
Currently own 74% of condo units; can gain control of HOA/building by acquiring 75+% of units