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Brokerage
Distressed Assets
Cubed Construction
Leasing
Property Management
Chicago Multifamily Portfolio Sale
Multifamily
Brokerage
Chicago
In the early fall of 2017, 33 Realty was given the green light to shop a South Side portfolio consisting of 13 Buildings. The properties were scattered throughout 5 different neighborhoods. The buildings had been well maintained and offered an ideal add value in kitchen and bath updates, without major capital expenditures needing to be done.
295
Units
$14.65M
Sale Price
Brokerage-target
Suburban Multifamily Portfolio
Multifamily
Brokerage
Belvidere, IL
In late 2019, 33 was hired to sell a five property, 64-unit portfolio of workforce housing apartments located in Belvidere, IL. The properties were located within a 2 mile radius of one another, were well maintained and provided a variety of “value-add” opportunities. Beyond conducting a robust marketing effort, the brokerage team successfully helped prospective buyers quantify the costs to upgrade and project renovated rents.
64
Units
$3.3M
Sale Price
Brokerage-target
Urban Land Sale
Land
Brokerage
Chicago
In March of 2017, 33 procured an off-market development site from a private owner that was designated for a Transit Oriented Development (“TOD”). Through our private buyer network we achieved a record price on a Per-Square-Foot (“PSF”) basis for land in the rapidly gentrifying neighborhood of Logan Square.
22,346
SF of land
$4.9MM
Sale Price
Brokerage-target
Chicago Multifamily Sale
Multifamily
Brokerage
Chicago
In the Spring of 2018, 33 was hired to sell this multifamily building on Chicago’s Northside. Comprising 16 residential units and 1 retail space, the building faced reasonably significant deferred maintenance and the units were in desperate need of upgrades.
17
Units
$3.32M
Sale Price
Brokerage-target
Suburban Deconversion Sale
Multifamily
Brokerage
Crystal Lake, IL
In March of 2020, the 33 Realty brokerage team was hired by the Randall Village Condominium Association to execute a deconversion sale of their condo complex. The driving force to list and ultimately sell the complex arose because the property as an apartment complex yielded prices for the unit owners that exceeded the value of their condos on a per unit basis.
196
Units
$25M
Sale Price
Brokerage-target
Distressed Chicago High-Rise
Residential (Condo)
Distressed Assets
Chicago
In 2013, 33 was approached by a West Coast-based hedge fund, Sabal, to take over this distressed luxury high rise in Chicago’s South Loop. The property was acquired by Sabal through a loan portfolio acquisition and was one of the many properties in the portfolio that Sabal had 33 operate.
171
Units
$47M
Combined Asset Value
Distressed Assets-target
Scattered Site REO Portfolio
Commercial
Distressed Assets
Chicago & Illinois Suburbs
In 2014, 33 was hired by the Bank of Hope, a West Coast bank to manage their entire portfolio of REO properties in the Chicagoland area. The properties were a mix of retail, office and warehouse and were inherited by the Bank of Hope when they acquired a variety of small local banks. 33 continues to manage the portfolio in 2021.
30
Properties Total
$15M
Combined Asset Value
Distressed Assets-target
Suburban Multifamily Bankruptcy
Multifamily
Distressed Assets
Western Illinois Suburbs
In September of 2020, 33 was approached to take the stalking horse position in this diversified workforce housing bankruptcy sale. The “Windy City Portfolio” was ultimately sold to a higher bidder, but 33’s involvement as the stalking horse was designed to demonstrate to the market that reliable operators were assigning significant value to the properties.
528
Units
$42M
Combined Asset Value
Distressed Assets-target
Ponzi Scheme Portfolio Takeover
Multifamily / Office
Distressed Assets
Chicago & Northwest Suburbs
In September of 2019, 33 was appointed by N. Neville Reid of Fox, Swibel in the SEC’s case alleging a Ponzi scheme against Northridge Holdings, Ltd, owner of a large residential and office portfolio across Chicago and the surrounding suburbs, to assume management, leasing, preservation and brokerage responsibilities for the portfolio.
848
Units
$75M
Combined Asset Value
Distressed Assets-target
Suburban Deconversion Property Management
Multifamily
Property Management
Glen Ellyn, IL
33 took over management of this fractured 14-building condo complex in the heart of Glen Ellyn, IL. Consisting of 60 townhomes, 48 were acquired in a bulk sale by 33’s client and the client tasked us with coordinating the acquisition of the remaining 12 units.
60
Units
$1.26M
Annual Gross Income
Property Management-target
Suburban Office / Retail Suites
Office / Retail
Property Management
Northbrook, IL
In March of 2012, 33 was engaged to manage this state-of-the-art, mixed-use office suites and retail building. The property was severely mismanaged by the prior owner facing significant vacancy issues and high operating expenses.
54
Suites
$44,000
Gross Annual Income
Property Management-target
Wicker Park Luxury Mid-Rise
Multifamily
Property Management
Chicago
In December of 2020, a former 33 client approached us to take over their luxury apartment building due to issues with their current management company. The property had low social media reviews, high turnover and was having trouble competing with similar luxury product.
207
Units
$6.06m
Gross Annual Income
Property Management-target
Rogers Park Courtyard Building
Multifamily
Property Management
Chicago
33 Management was hired to manage this vintage courtyard apartment building in Chicago’s Rogers Park neighborhood. The property had been severely mismanaged by the prior property manager 33 was brought in to stabilize expenses, eliminate vacancy and boost collections.
31
Units
$467,000
Gross Annual Income
Property Management-target
Suburban Branding / Leasing Projects
Garden Style Apartments
Leasing
IL / IN Suburbs
In collaboration with 3 different equity groups, 33 was asked to rebrand and lease-up 5 garden-style, gut renovated properties located throughout Illinois and Indiana. Each brand was created by our in-house marketing team and our leasing team was awarded exclusive lease-up and ongoing leasing for the properties.
356
Units
5
Cities
Leasing-target
Chicago Flats Leasing
Scattered Site
Leasing
Chicago - Northside
After a challenging leasing season, developer Golub & Company turned over leasing responsibilities for their 110-unit, 8- building portfolio to 33. 33 was tasked with recalibrating rents and implementing a new leasing strategy to bring the portfolio close to full occupancy.
110
Units
8
Buildings
Leasing-target
The “Trailhead” Luxury Lease-up
Luxury
Leasing
Chicago - Bucktown
LG Development hired 33 Realty in 2020 - 2021 to lease-up this luxury mid-rise apartment building; the first with access to Chicago’s “606 Trail”. Prior to commencing the lease-up, 33 was asked to consult with LG on floor planning, branding and digital marketing campaigns for the development.
109
Units
6 mONTHS
Total Lease-Up
Leasing-target
Crossfit Gym Buildout
Warehouse / Retail
Cubed Construction
Chicago
Cubed was approached by the owner of a successful crossfit gym located in River North to build out his second location on Chicago’s West Side. A vacant warehouse space was converted to a state-of-the-art gym with a variety of custom components.
$500k
Budget
6 months
Timeline
Cubed Construction-target
Garden-Style Apartment Complex
Volume Renovation
Cubed Construction
Elkhart, IN
Cubed teams traveled to Elkhart, IN to renovate the grounds, buildings and units at this rundown apartment complex. The property was transformed to create one of the only luxury apartment communities in the City of Elkhart.
$3.3M
Budget
11 months
Timeline
Cubed Construction-target
Luxury Apartment Building
Volume Renovation
Cubed Construction
Chicago
One of the largest private NY-based real estate developers hired Cubed to contemporize this dilapidated building that contained a mix of studios and 1-beds and unused amenity space. Ownership engaged Cubed in the preconstruction phase to help design the units and value-engineer the building.
$7.5M
Budget
18 months
Timeline
Cubed Construction-target
Historic Jeweler’s Row Building
Adaptive Reuse
Cubed Construction
Chicago
Cubed was awarded this renovation of a historically landmarked building in the heart of Chicago’s Jeweler’s Row. The building was converted from office space to 39 luxury, short-term stay hotel units.
$7.1M
Budget
14 months
Timeline
Cubed Construction-target
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