223 W. Erie

Chicago, IL

• Date Purchased: May 2025
• Building Mix: 24 office suites to be converted to 60 residential units & 1 ground floor office
• Purchase Price: $6,850,000 + $11,500,000 rehab budget
• Deal Level Return with Historic Tax Credits: 34.9% IRR & EQM 2.93
• Notes: Adaptive reuse of an under-utilized loft office building utilizing Historical Tax Credits