The subject investment property (the "Property") is a thirty-nine (39) unit multifamily building located at 6250 N Winthrop Ave in the Edgewater neighborhood of Chicago's North Side. The Property is one block from Loyola University's main campus.

The unit mix consists of (26) studios and (13) 1BR/1BA apartments. Roughly half of the tenants are students, both from Loyola University and Northwestern University. The current owner has lease renewals out for five (5) units, all of which expire during the summer leasing season. Unit 112 is on the market for $1,495; roughly 85% of the apartments have similar finishes and thus could be rented at market rates in their as-is condition.

The Property's building systems have been impeccably maintained by a long-term owner. There are income-generating laundry machines in the basement; also, the owner collects additional income during summer months via the rental of A/C units. Twenty (20) tenants opted for the rental in 2024. A prospective buyer has the opportunity to acquire a historic asset within one of the most desirable pockets of Edgewater. There is considerable upside resulting from the below-market rents and minimal cap-ex required to stabilize the building.

An investor may opt to convert the Property to student housing to maximize returns, given its proximity to Loyola. The Property is owned free and clear.