 |
| Dan Howard |
Chicago, IL – 29th Street
Capital (29SC) a privately-held real estate investment and advisory firm, has
acquired its second multifamily property in Des Plaines, Illinois.
The property, located
one-half mile north of downtown Des Plaines at 175 S. River Road, is comprised
completely of one bedroom, one bathroom dwelling units.
29SC plans to invest
over $15,000 per unit to renovate unit interiors and remodel the property
exterior.
“The acquisition of this
property on South River Road provides an exciting opportunity to expand our
footprint in the Des Plaines market and complement our other holding at 1443
Ashland Avenue, which offers primarily larger two bedroom units,” said Dan Howard, Vice President of
Acquisitions for Chicagoland.
“With METRA rail nearby
and a strengthening downtown, these units, once updated, will prove attractive
for residents looking to rent in a quality suburb of Chicago.”
Des Plaines offers
residents access to METRA commuter rail, O’Hare International Airport, and two
major highways – Interstate 90 and The Tri-State Tollway (I-294.) In addition
to being home to several Fortune 500 companies and international employers, Des
Plaines hosts a comfortable blend of commercial, financial, industrial,
professional, service and retail sector jobs.
 |
| Stan Beraznik |
The acquisition closed
Friday, Sept. 9, 2016. The sale price was not disclosed.
Formed in 2009, 29SC is a
privately-held real estate investment and advisory firm that employs a
value-added investment strategy in acquiring properties that fall below the
radar of institutional peers.
29SC’s multifamily
portfolio consists of nearly 7,000 units and it has acquired over 8,500 units
across its 11 offices in the U.S.
Investments typically require $8 to $35
million of total capital and involve the acquisition or recapitalization of
real estate assets, portfolios or platforms.
For investment inquiries,
contact:
Stan Beraznik,
Founder and Managing Principal at 29th Street Capital
415.643.6875 | sberaznik@29thstreetcapital.com
For a complete copy of the company’s news release,
please contact:
http://www.facebook.com/pages/Thornton-Communications/112101288827299
http://twitter.com/Ttho http://www.linkedin.com/in/TerriThornton Terri Thornton
Partner, Thornton
Communications
Phone: 404-932-4347
Email: Terri@TerriThornton.com
Website: www.TerriThornton.com
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