Investing in Stability: A Case Study on Adams Laflin Place Acquisition
The Breneman Capital team proudly reflects on the successful disposition of Adams Laflin Place, a Class A 52-unit multifamily property in Chicago’s West Loop. This sale marks a significant milestone in our strategic investment journey, showcasing our commitment to high cash flow, long-term thinking, downside protection, and pride of ownership.
Initially purchased for $18,500,000, Adams Laflin Place was appraised at $19,050,000, affirming our investment strategy’s effectiveness through its appreciation. Our use of modest leverage at 65.0% loan-to-value, coupled with a 5.53% fixed interest rate and full-term interest-only debt payments, underscored our prudent financial management.
Having previously transacted with the seller, our familiarity with them positioned us to acquire the property advantageously. We have monitored Adams Laflin Place since its completion in 2020, recognizing its potential as a valuable addition to our portfolio. The property featured luxury condominium-level finishes, large floorplans averaging 1,119 square feet, and a mix of one and two-bedroom units. Its location adjacent to Skinner Park, with a rooftop deck offering panoramic views of the Chicago skyline and a 52-space parking garage, further enhanced its appeal.
In the West Loop, Adams Laflin Place benefited from its proximity to top dining venues, major entertainment hubs like the United Center, and leading employers such as McDonald’s and Google. This neighborhood’s dynamic environment contributed significantly to the property’s success under our management.
Managed through our in-house platform, Dwelle Properties, Adams Laflin Place exemplified our deep local market knowledge and operational expertise. This strategic disposition reinforced our footprint in one of Chicago’s most sought-after neighborhoods and validated our investment philosophy.
We extend our heartfelt thanks to our investors and partners, whose trust and collaboration were instrumental in this venture. Their support enables us to continue identifying and capitalizing on opportunities that align with our disciplined investment criteria, driving value creation across our portfolio.
For more insights into this transaction and our broader strategic approach to real estate investment, we invite you to visit our portfolio page on the Breneman Capital website.