Chicago Office

Development Opportunity In Robust Rural Market

• Ability to add scale in supply constrained market with a development agreement in place incentivizing the construction of 85-90 additional units with TIF already in place.
• 15+ water parks/resorts within five miles of the property; 40,000+ jobs within a 30 minute drive of the property, with proximity to Baraboo employment node (Flambeau, Sysco, Seneca, Ho-Chunk Casino)
• $250M investment into new Dellshire hotel development, generating hundreds of new employment opportunities and providing an upscale alternative to traditional hospitality options
•  Over 500k sf of meeting space in the Dells coupled with 10k+ guest rooms, 100+ restaurants, and over 100 attractions have driven the expansion of the convention business, with nearly 5,600 meetings held annually by prominent organization

Household Incomes Support Continued Rent Growth

• Average HH incomes of $95,354 within a 10-mile radius allows a cushion of $954, as current rent-to-income ratio is 12 pts below the 33% threshold 
• YTD rent growth of 8.2%, propelled by the growth of households earning $100k+ outpacing the 418 class A units within a 20 mile radius of the property
• There are currently no market rate units in the construction pipeline, ensuring the stability of the existing upscale apartments in the market

Operational Upside

• Over the last 6 months, concessions have burned off, while occupancy has remained above 97% 
• Currently managed by a third party property management firm that traditionally manages smaller properties. There is opportunity to for a more marketing-focused management company to methodically increase rents, stagger leases, and manage income & expense growth 
• Opportunity to increase other income by 25-75% by breaking out utility and cable/Internet charges for each BR type, increasing the fee for underground parking, and re-purposing the large amenity spaces in each apartment building
• Ability to re-purpose several underutilized common area amenity spaces into additional 3-5 residential units
  
  
  

Sponsor Overview

Coronado West specializes in land bank financing services for residential home builders. With over 25 years of experience, Coronado West successfully developed more than 40,000 residential lots across 250 residential home communities in various states, including Arizona, Colorado, Florida, Georgia, Idaho, Indiana, Nevada, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Texas and Washington. Since 2011, Coronado West has completed almost $4B in land banking transactions with more than $1B of transactions currently under management in more than 5O residential home communities.

Coronado West’s Competitive Advantage and Plan:

• Maintains strong relationships with both public and private home builders by tailoring land bank finance solutions to meet each home builder’s unique needs.
• Dedicated and highly skilled team of legal, finance, and underwriting professionals. This enables Coronado West to handle most legal work and underwriting in-house without the need for, or delays involved in retaining third party consultants.
• Plans to grow and become more competitive in 2026 through investments from additional investment funds and by adding more and larger home builders to its portfolio.
• To become more competitive in the land bank finance market, Coronado West intends to provide land bank finance terms with lower and more competitive interest rates for the Option Agreement Monthly Carry Payments, and lower and more competitive interest rates for the Builder Deposit.

Proven Repositioning with Demonstrated Operational Momentum

Favorably Positioned for Stable, Long-Term Cashflow

Durable Micro-Location and Demographics

Strategically positioned between Jackson Boulevard, Green Street, and Halsted Street, 309 S Green Street sits at the heart of the West Loop–Fulton Market submarket, Chicago’s most desirable and highest performing urban neighborhood. This prime location is just blocks from Downtown Chicago, University of Illinois Chicago campus, Randolph Street’s famed Restaurant Row, major corporate headquarters, and the CTA Blue Line, offering unmatched accessibility and visibility for future multifamily development.