Property Listings

Conveniently Located Within Walking Distance to Top Retailers and Iconic Chicago Attractions

• Prime location: minutes from renowned Chicago attractions such as Grant Park, Soldier Field, the Museum Campus, and the Lakefront
• Convenient Living: Walking distance to national brands Target, Walgreens, Trader Joe's, Dunkin', Pure Barre, and Orangetheory
• Commuter Friendly: 5-minute walk to Roosevelt Station, providing access to multiple CTA lines running through the Loop

South Loop Presents the Greatest Opportunity for Rent Growth in Chicago, a Market with Nation Leading Fundamentals

• Since 2015, rents in the South Loop have grown a cumulative 34% (Second highest of any Chicago CBD submarket)

Denominator Effect

• South Loop rents currently average $284 below other downtown Chicago submarkets
• The gap between South Loop rents and those other submarkets has decreased 18% in the last ten years. The tightening of that spread is largely due to the denominator effect
• As rents in the South Loop are starting at a lower monthly rent (lower denominator), there presents more opportunity for outsized rent growth
• Assets renting at $4.15 psf would require an increase of $0.20 per sf to achieve 5% rent growth, compared to 1400 S Wabash at $3.15 psf only needing $0.15 per sf to achieve the same rent growth (32% difference)
• Multifamily supply in Chicago is set to drop 31% in the next four years compared to the 10-year historical average – with South Loop supply down a dramatic 49%

Attainable Luxury Housing Attracting Young Urban Renters

Robust Submarket with High Earning Tenant Base

• Median household income of $125,521 within 0.5 miles, with 50.3% of households being renter occupied
• 63.4% of households earning over $100,000
• High earning population projected to outpace new inventory within 0.5mi - 18% growth compared to 3% Class A inventory expansion

Strong operation performance demonstrated by attractive positioning in submarket

• Renewals and trade outs averaged 3.28% over the last year, with renewals driving the increase at 5.4% upon renewal
• Proven ability to increase income, demonstrated by 12% increase in net rental income and 13% increase in NOI from January to December

Excellent Micro Location on Ravenswood’s Most Vibrant Corner

• Steps from national and local retailers such as LA Fitness, Starbucks, and Mariano’s (grocery)
• Immediate walk to Ravenswood Metra stop and Damen Brown Line, providing commuters with downtown access within 20 minutes
• 100% occupied retail at the property, including DeVry University and Club Pilates

Appealing to Affluent Young Professionals & Families Seeking Spacious Living and Urban Convenience

• Caters to renters seeking spacious living who are priced out of homeownership – Average household income within 0.5 miles is $141K, while average home values are $620K, making homeownership unattainable for most
• Ideal floorplans for tenants seeking more space without compromising on budget – Rent at comparable properties and unit sizes in Lincoln Park/Lakeview is 27% higher per month, making Ravenswood an ideal location for tenants seeking spacious layouts and urban convenience at a lower cost
• Most desirable option in the area – 1900 W Lawrence offers the largest floorplans in the competitive set, averaging 26% larger than nearby properties. Lofty layouts are also available, providing unique, spacious living options at a discount

Supply/Demand Imbalance: Growth in High-Income Renter Households Vastly Outpacing Supply

• Stagnant supply with double-digit growth in high earners – No new units are planned within a half-mile radius through 2029, while the population of renters earning over $100K is expected to grow by 12.2%
• Shortage of new product – By 2029, total inventory built after 2015 will only accommodate 18% of renters earning $100K+

Favorable North Lakefront Neighborhood with Robust Fundamentals

• Located in the North Lakefront multifamily submarket – While this is the largest submarket on Chicago’s Northside, as of Q1 2025, only 320 units are under construction
• Robust fundamentals – The submarket consistently demonstrates strong demand fundamentals, with a vacancy rate of 4.2%, which is 200 basis points below pre-pandemic levels, and rent growth 40 basis points above the Chicago market average of 3.1%

The Abbey Lane is comprised of 100 one and two bedroom apartment units ranging in size from 839 sf to 1,398 sf. The property offers residents a serene setting amongst a mature wooded area and naturally meandering Coffee Creek. With amenities like a dog park, fitness center, pool, tennis court and playground, Abbey Lane is an idea place for a wide variety of residents.

Over the past 12 months, the property has undergone significant capital projects ($850,000+) including cosmetic interior upgrades to a select number of units, replacement of windows in 33 units, refreshed interior hallways as well as a minor clubhouse renovation and other deferred maintenance items (rebuilding of balconies, bridge reinforcement, etc.). The property is positioned well for the new ownership to purchase a stable, partially renovated property in an attractive location with ample opportunity to create upside.

Minutes from I-94 (to the north) and I-80 (to the south), Abbey Lane is ideally located in the heart of Indiana’s Northwest most affluent county (Porter). Access to Chicago is less than an hour’s drive or a 50-minute commute via the South Shore Line (train).

AM 1980 is a 132-unit boutique luxury apartment community at the entrance of Chicago’s vibrant Logan Square neighborhood, a market that has outperformed downtown Chicago submarkets over the last 18 months. Conveniently located just steps from the Western Blue Line CTA stop and surrounded by premier retailers, this property is ideally situated to capture demand from a growing demographic of high-income renters in Logan Square; with household income increasing 39% since 2019. Offering immediate access to over 796,000 employees in downtown Chicago and the O’Hare office market via the Blue Line, AM 1980 is perfectly positioned for today’s urban commuter.

GROWING POPULATION OF HIGH-EARNING RENTERS IN LOGAN SQUARE

Average household (HH) income within 0.5 miles of AM 1980 of $178k is 1.6x above the Chicago average. 57% of Logan Square is renter occupied. Average home values have increased 45% since 2019 to $537k.

ROBUST SUBMARKET FUNDAMENTALS

Rents in Logan Square grew 5.5% in 2023 and occupancy averaged 96%. The massive supply/demand imbalance continues to give landlords pricing power.

IDEALLY SITUATED IN A TRANSIT-ORIENTED LOCATION WITH HIGH BARRIERS TO ENTRY

One minute from the Western Avenue Blue Line CTA stop; residents can travel to downtown in 18 minutes and to O’Hare in 35 minutes. Residents also have convenient access to I-94 via Armitage and immediate access to bike trails on Milwaukee Ave.

GROWTH OF LOGAN SQUARE

Thriving retail submarket with 8 grocery chains and 15 Michelin-recognized restaurants. Recent investments include an $88M overhaul of historic Congress Theatre, as well as a community plaza with more walking and bike trails, in addition to the popular 606 trail.

The Fairway, a 167-unit, 298-bed student-centric housing community, enjoys a strategic position near Purdue University’s bustling campus. With over 52,000 students within walking distance, The Fairway is poised to capture demand from an expanding student base seeking an attainable rental price point compared to new-construction properties.

The Fairway was originally constructed in the 1960s and had a third phase delivered in 2007. In 2018, all 12 buildings received extensive renovations, including brand-new appliances, in unit washer/dryer, upgraded flooring, stylish countertops, and modern cabinets. The property boasts ample amenities, including a pool, hot tub, fitness center, community room, and fenced dog park.

THE PROPERTY

a. Recently renovated units featuring in unit washer/dry, stainless-steel appliances, vinyl plank flooring, quartz countertops and modern cabinets

b. Full amenity package featuring a pool, hot tub, fitness center, community room, and fenced dog park

c. Well positioned just one mile from Top 10 Nationally Ranked Purdue University - over 52,000 students and 18,000+ employees

d. Immediate access to top retailers including grocers Walmart, Fresh Thyme, and Aldi, along with major convenience stores Walgreens and CVS

THE MARKET

a. Caters to growing student base – Purdue University saw 7% YOY growth in applications in 2023, and 82% growth since 2013

b. 9.6% rent growth in 2023 at Purdue with 97% occupancy, averaging 5.8% rent growth over the last five years

THE UPSIDE

a. 100% leased for 2024/2025 school year - demonstrates demand for lower-cost student housing with a captive tenant base

b. Ability to significantly increase rents via value-add program by improving property condition, rejuvenating amenities, and furnishing the units

The Fairway, a 167-unit, 298-bed student housing community, enjoys a strategic position near Purdue University’s bustling campus. With over 58,000 students within walking distance, The Fairway is poised to capture demand from an expanding student base seeking an attainable rental price point compared to new-construction properties which are 27.6% more expensive with an average market rent of $1,139 per bed.

The Fairway was originally constructed in the 1960s and had a third phase delivered in 2007. In 2018, all 12 buildings received extensive renovations, including brand-new appliances, in unit washer/dryer, upgraded flooring, stylish countertops, and modern cabinets. The property boasts ample amenities, including a pool, hot tub, fitness center, community room, and fenced dog park.

Recently renovated, well-amenitized, off-campus student housing

a. Recently renovated units featuring in unit washer/dryer, stainless-steel appliances, vinyl plank flooring, quartz countertops and modern cabinets

b. Full amenity package featuring a pool, hot tub, fitness center, community room, and fenced dog park

c. Well positioned just one mile from Top 10 Nationally Ranked Purdue University - over 58,000 students and 18,000+ employees

d. Immediate access to top retailers including grocers Walmart, Fresh Thyme, and Aldi, along with major convenience stores Walgreens and CVS

Record setting applications & minimal supply

a. Record number of applicants – Purdue University saw 7.8% YOY growth in applications for the 2024/25 school year with 78,526 submissions, and a 37.1% cumulative increase over the past 5 years

b. Outsized rent growth and tight occupancy driven by record enrollment - 16.6% rent growth in 2024 at Purdue with 98.8% occupancy, with 10.4% average YoY rent growth over the past 5 years for off-campus housing

c. Full-time enrollment dramatically outpaces supply – with 12,936 beds, off-campus supply equates to 26.2% of full-time enrollment, and only grew 3.9% (1,105 beds) in 2024 compared to a 10.6% increase in full-time enrollment

Opportunity to invest capital to elevate the asset and push rent

a. Despite being in receivership since December 2023, the asset has seen rent grow a staggering 17.2% from $761 per bed in 2024/25 to pre-leasing at $892 per bed for the 2025/26 school year

b. Average Off-Campus Rent/Bed is $1,078, a $186 gap that can be taken advantage of with additional capex to improve property condition, rejuvenating amenities, implementing a shuttle service and furnishing the units

Park View Apartments, nestled in the quiet neighborhood surrounding Hawthorne Park in Janesville, Wisconsin is a great opportunity for steady investment.  The setting for Park View is idyllic with grand, stately oak trees and an expansive lawn area.  Typically appealing to a senior demographic, Park View has been a destination for residents seeking efficient living and access to important amenities like shopping, medical offices, hospitals and pharmacies. Tenants enjoy this asset’s boutique feel, and it shows via high retention rates and long rental tenure as a result.

This is truly a "bread and butter" opportunity for investors seeking low risk and strong returns.  This is coupled with the opportunity to convert the asset into a more "senior specific" use giving a new investor multiple executions.  In addition, current ownership has secured favorable, assumable agency financing at record-low interest rates, which allows new ownership to generate great returns immediately.

Best Product in Vibrant Walkable Location

Promenade at Founders Square stands out as the premier offering in its vicinity, boasting top-tier finishes and luxurious amenities that elevate the living experience. The vibrant location adds to the appeal, with convenient on-site retail options and adjacency to the popular Founders Square Park.

6.4% Cap Rate with Impressive Demand

The property is being offered at a compelling 6.4% cap rate. Furthermore, the property showcases remarkable demand as it is currently 100% leased with a waitlist of prospective tenants. This signifies a high level of interest and a positive market outlook for the property.

Northwest Indiana Employment & Amenities

The Northwest Indiana region is rich with abundant employment opportunities. Residents of Promenade at Founders Square enjoy convenient access to the job market in the Chicago area as well as the employment opportunities available in northwest Indiana.

Benefits From Illinois and City Exodus

Nationally there is a migration toward the suburbs. Locally Northwestern Indiana is benefiting from a boom of new residents as people look to escape Chicago in favor of small town charms, taxes and environment.

Proximity to Chicago

Promenade at Founder's Square boasts a prime location, a mere 45-minute drive from the lively city of Chicago. Residents can effortlessly enjoy the abundant amenities, entertainment offerings, and employment opportunities that Chicago provides, all while avoiding the exorbitant costs and inconveniences of city living.

Potential to Develop 60 Additional Units

The acquisition of land adjacent to Promenade at Founder's Square presents a promising opportunity for the development of 60 additional units. Two additional parcels of land are currently available for purchase at a price of $550K. Importantly, the site is already properly zoned and prepared, streamlining the development process.

Skyline Towers is a 60-unit, boutique elevator multifamily property located in one of the fastest growing submarkets in the Midwest. Offering large floorplans and underground parking, Skyline Towers is positioned to capture demand from modern renters looking for homelike living with the convenience of renting.

Skyline Towers was developed in 2017, delivering an unmatched product in the rental market. The property is now positioned for more operationally focused ownership, taking advantage of unrealized supplemental income while continuing to ride the wave of outsized rent growth in the Kenosha submarket.

Capture Operational Upside

Improve operations by capturing nearly $50,000 of additional annual income by charging market standard fees for parking and storage.

Booming Kenosha Job Market

Over 8,000 jobs added since 2010 through major corporations such as Amazon, Uline, Kroger, Haribo, and Nexus. There is another 4.5 MSF of industrial development projected to bring 1,000 more jobs to the area.

Assumable Debt with Term

The acquisition of Skyline Towers offers attractive assumable agency debt at 4.79% maturing in September 2030. The current loan balance is in line with today’s market loan to value.

Fundamentals Poised for Strong Rent Growth

Area home values have increased 11.2% in the past year averaging $447,500, making homeownership even less attainable in today’s rising interest rate environment. Skyline Tower’s average rent is only 18.5% the average area income of $101,437. With only 133 units under construction in the submarket, the asset its poised for outsized rent growth.

After a decades-long development hiatus, Broad Ripple, Indianapolis, has excitedly embraced Indy's most captivating mixed-use development.  The Coil Apartments and Fresh Thyme Farmers Market are an integral addition to a submarket with extremely attractive demographics - highly educated, high-earning residents.

Current residency boasts an average age of 38 years and a powerful average income of $100,000 with an average credit score of 726.  The asset's prestige even allures out of state residents to enjoy the benefits of a growing job market and economy in central Indiana.  The Coil is commanding some of the highest rents in the market.

Adjacent to the Indiana Central Canal, in the heart of Broad Ripple Village, The Coil is walking distance from the myriad shops and restaurants in the Village. The convenient location on College Avenue also grants residents direct access to downtown Indianapolis and the Carmel business corridor.

In addition to boasting 151 luxury apartments, the asset includes a 33,500-square-foot flagship Fresh Thyme Farmers Market with a long-term lease, backed by Meijer credit.  This is a rare amenity for renters in Indianapolis.

Discerning residents have limited options in an urban-suburban setting and will continue to thrive in this asset for many years to come.

The Malt House is a 118-unit, boutique elevator multifamily property located in one of the fastest growing submarkets of downtown Milwaukee. The Malt House is positioned to capture demand from young urban renters, offering attainable rents relative to new-construction product with all the perks of Class A living - a model that is impossible to replicate today.

The Malt House was redeveloped in 2021, delivering an unmatched product in the rental market with an industrial aesthetic, luxury finishes and robust amenities. The property is positioned for more operationally focused ownership, as the market continues to show demand for this product type, with rents growing 6.8% on new leases and 5.3% on renewals since September.

EXTENSIVE RENOVATION OFFERED WELL BELOW REPLACEMENT COST

a. Current ownership underwent a 5-year conversion project, delivering the property to market in 2021

b. Unique industrial aesthetic with Class-A unit finishes including stainless steel appliances, white shaker cabinets, granite countertops, and white subway tile backsplash

c. Robust amenity package including atrium, co-working lounge, game room, fitness center, movie theatre room and rooftop deck

UNIQUE RENTAL PRODUCT CATERING TO YOUNG PROFESSIONAL TENANT BASE LOOKING FOR HIGH-END LIVING AT ATTAINABLE RENTS

a. Attainable rents offered at a 15% discount to Class A product in the submarket

b. Strong recent lease trade outs – 6.8% on new leases and 5.3% on renewals since September

c. Large floor plans – Average unit size 19% larger than comp set average

d. Top tier amenities comparable to new-construction product

ASSET IMMEDIATELY ADJACENT TO MASSIVE DEER DISTRICT PUD AND TOP DOWNTOWN MILWAUKEE DESTINATIONS

a. Deer District Development (since 2019) – 1.3b sf of entertainment, 1,000 residential units, 600 hotel keys and 200k sf of office space

b. Part of Brewery District Redevelopment – $300m investment across 16 repurposed historically significant buildings totaling 850k sf

c. Accessible to Marquette Campus (11,600 students), Iron District development ($160m in 2025), and Lake Michigan

MILWAUKEE EMPLOYERS

a. Northwestern Mutual - $1b campus across two buildings and 5,000 employees

b. Six Fortune 500 HQs and additional six Fortune 1000 HQs

c. Walking distance to over 87,000 professionals in Milwaukee CBD