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Rethinking our marketing

We’re in the midst of totally rethinking how we market our vacancies. Up to now, we’ve done things on an ad hoc basis, with each leasing consultant handling her assigned vacancies however she thought fit. Now, we’ve got enough projects coming on line that we need to systematize what we’re doing. So, we’d like to speak

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Update on 830-832 N Beaudry

Today, we’re putting the finishing touches on 830-832 Beaudry, a 7 unit building we renovated through Adaptive Realty Fund 3. This project ran into some hurdles and was delayed approximately three months past its scheduled completion date. Some of the delay was unavoidable, but most of it was the contractor failing to supply sufficient labor

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How Highland Park got so many non-rent control buildings

Met with a guy yesterday who participated in the Highland Park building boom of the 1980s and early 1990s. Apparently deals worked like this: You would buy a piece of land for cash. Next, you would get the bank to appraise the land for a lot more than you paid for it. Then, the bank

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How to research asking rents on Craigslist

If you’re going to do multifamily projects, you need to know your target post-rehab rents. In our business, we rely heavily on proprietary information from our existing portfolio. Since almost all our units are renovated to a similar standard and all our buildings are clustered in a few areas, we have very granular information about

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3100 London is in lease-up

We’re just beginning leasing on 3100 London, the largest project ever undertaken by Adaptive. This one was a bear. Among other things, we upped the unit count from 24 to 27, totally reconfigured all the units, re-vamped most of the entrances, constructed private outdoor spaces for all the units and resolved a majorly painful situation

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