Chicago Woodlawn –Value-Add Multifamily

Deal Highlights

• Purchased 84-unit midrise apartment building ½ block south of University of Chicago in the Hyde Park / Woodlawn neighborhood
  
• Approximately 85% occupied at the time of acquisition
  
• Property underwent major renovations to all building systems within last 5 years
  
• Rents at the time of purchase were significantly below market; opportunity to increase rents through minor interior improvements and better leasing efforts
  
• Short-term opportunity to increase value through improved management and operational efficiency
  
• Long-term opportunity to increase value through repositioning building as student-focused housing for University of Chicago students