Results for ‘Development’ category

363 S Leslie is fully leased

You may remember 363 S Leslie, a 4plex we recently completed in Highland Park. Here’s a pic to jog your memory: Am happy to report that leasing is done. Better yet: Our rents came in materially higher than we originally pro forma’d. So, instead of the 6.3% unlevered yield we expected out of the property, I

Attack of the zombie street dedications

All over the city, there are zombie street dedications increasing the cost of housing. Wait… what? (You say.) A street dedication is how the city responds to old, narrow streets that don’t meet modern standards. It can’t start ripping down peoples’ buildings and taking away their front yards (well, it could, but that would require

Some misguided thinking about rents in Highland Park

Just read this interview with the president of the Highland Park Neighborhood Council and it’s making me kind of mad. Before I get into “why”, I want to begin by acknowledging Ms. Alcaraz’s hard work on behalf of the whole neighborhood. Running a neighborhood council is no joke; it’s hard, important, often thankless work for

Some advice for aspiring developers

Had an interesting meeting yesterday with an MBA student who was in the class I spoke with earlier in the week. He’s got a family business building / rehabbing buildings and is considering whether to go back to it with his MBA and try to grow it or take a more traditional job with a

Now leasing: 363 S. Leslie Way

Thought you would appreciate seeing some pics of our latest project, 363 S. Leslie Way, a fourplex we just finished renovating in Highland Park. Now, obviously, doing fourplexes is not an efficient way for us to put out capital. But our partner was in a 1031 exchange, the clock was ticking, and we liked the deal.

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