Chicago, IL

Chicago, IL Through a joint venture, we purchased 1350 West Madison in Chicago, the former Johnny's Ice House East indoor ice rink. The property is being renovated into an 8-court pickleball and event venue, to be managed by SPF pickleball clubs.

Romeoville, IL Planned for a spring 2027 ground-breaking, 111 Normantown Road is a 107-unit, 3-story, multi-family project.

Chicago, IL We purchased a defaulted note at par, secured by a 75,000 sf industrial building in Chicago's West Town, and inherited significant additional sums owed by the borrower. After we negotiated a Forbearance Agreement, the borrower repaid the loan in full, generating a 55% return for our investors.

Davenport, FL This property was a severely “broken” condominium project with owner-occupants in only 3 units out of 240. We were able to purchase over 80% of the units at favorable prices and took over the condominium board and instituted a property-wide common area upgrade. The property was recently sold, only 18 months after the initial investment for an IRR of 27% to investors.

Homewood, IL With principals of Caton Commercial Real Estate, we purchased a neglected 12,000 sf shopping center in Homewood from the Village. Within a year, we fully renovated it and brought it to over 70% leased.

Schaumburg, IL

Chicago, IL

Palatine, IL In an extremely complicated transaction, we purchased the defaulted second mortgage on a failed condo conversion of 719 units.  Using that position as leverage, we were able to gain control of the manager of the entity that owned 64% of the units.  We then purchased enough units to obtain ownership rights to 75%+ of the units which allowed us to “deconvert” the property, subject to a “Section 15” deconversion of the IL Condo Act.

Chicago, IL

Crystal Lake, IL Granite purchased 209 condominium units out of 235 total units (89%).  Within 12 months, we gained ownership of the remaining 26 units. Deferred improvements have begun, including repairing or upgrading the parking lot, landscaping and most common areas.

Schaumburg, IL

Chicago, IL This is the only transaction to date in which all of the units were acquired at the same time subject to a 100% deconversion vote.  This property will be moderately renovated and held for cash flow and accommodated a section 1031 tax deferred exchange.

Wheeling, IL Granite purchased 147 units out of 264 units in a single bulk acquisition.  We now own 60% of the units.  As members of the board we are trying to remediate years of deferred maintenance in order to improve the overall property.  We have begun a select upgrade of units that we own and are achieving rent premiums in excess of our projected rents.