Chicago VAlue-add Portfolio
Over the course of a couple of years, SCM acquired 5 multifamily buildings on the northwest corner of Chicago, spanning Portage Park, Montclare, and Harwood Heights.
All buildings were completely gutted and modernized, including all new plumbing, HVAC, electrical, windows, doors, LED lighting, high efficiency appliances, quartz countertops, kitchen cabinets, refinished floors, tiling, tubs, toilets, sinks, and all fixtures.
Upon completion, we were able to attract very high quality tenants while raising rents 30-60% above the nearby market levels.
All buildings were fully occupied within a couple of months.
Acquired: Winter 2016 through 2019
Status: Sold as a portfolio late spring 2019