Mixed-Use Multifamily Asset Prime Prospect Heights

Executive Summary: Exceptional opportunity to acquire a cash-flowing mixed-use building with strong in-place income and clear upside potential through rent optimization and repositioning. With residential + retail; total Units: 43 Residential (1 BR, 2 BR, 3 BR) + retail tenancies – Commercial Units: Multiple retail tenants (store, café, restaurant, medical, etc.).

Property Highlights
o Retail Diversification – Stable commercial tenant mix
o Rent Growth Potential – Mark-to-market opportunity on residential units
o Favorable Expense Ratio – Efficient operations under 40%
o Upside Through Renovations
o 16 fully renovated units
o 11 partially renovated
o 5 minimally renovated

Building Specifications
o Additional Development Potential: Significant unused air rights.
o Lot Dimensions: 137.67 ft x 60 ft
o Current Building Area: 35,752 SF
o Max Buildable Area: 65,618 SF
o Zoning / FAR
o Residential FAR: 6.02
o Current FAR: 3.28