Interra Realty is exclusively engaged to market 3301 W Palmer Ave., Palmer Place Apartments, a 37- unit multifamily building located in the highly desirable Logan Square neighborhood of Chicago, IL. The unit mix is comprised of (12) 1Bdr/1Ba, (23) 2Bdr/1Ba and (2) 3Bdr/1Ba units. The courtyard building features updated electric, all copper plumbing, an on-site laundry room, and the ability to further renovate the apartment units themselves.

The units are vintage rental quality with updated kitchens and baths, wall-to-wall carpeting, and full size
appliances. Units are heated by a Well McClain boiler that has sensors within the building to provide for
additional efficiencies. Tenants use window A/C units as desired. There is a laundry room that has three (3)
washers and three (3) dryers (leased).

This building offers a unique value-add opportunity to substantially increase rents in addition to potential unit modernization in the future. Maximum rents are currently controlled by the Illinois Housing Development Authority, as the building is an Affordable Low-Income Housing Tax Credit property with restricted rents whose compliance ends in April, 2025 (see IDHA table, pg.5). Regulatory maximum (IDHA) rents and income limits where as 50% of the units are 50% median income and 50% of the units are 80% of median income. This development qualifies for "HERA" rents.

The property is very well situated in Logan Square as it's walking distance to Palmer Square Park, the Kimball & Palmer CTA Bus Stop, and less than a mile to the California Blue Line Station, as well as the nightlife and restaurants of Milwaukee Avenue.