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Consists of 4 buildings built in the 1970s; excellent location in a suburban location that lacks meaningful “workforce housing” alternatives. This rehab opportunity allowed for an asset repositioning for long-term sustainability and considerable rent growth.

501 basil road

reno of lake bluff garden building

DATE PURCHASED: DECEMBER 2023

PURCHASE PRICE: 2.35M

TOTAL PROJECT BUDGET: 2.95M

UNITS: 24

DEAL LEVEL RETURN : 40% IRR + 2.2 EQM