01 · The Requirement
What this buyer is looking for
Type of Business
Value-Add Multifamily
Category
Multifamily
Size Sought
Size open
Maximum Purchase Price
$5,000,000
Status
Actively searching
Client identity is confidential. Jason Bitton represents this buyer. Owners and their brokers welcome. Criteria shown are the buyer’s stated requirements; all figures subject to change.
02 · Building Requirements
Physical criteria
Value-add apartment buildings in the Illinois suburbs or downstate, outside the City of Chicago, priced roughly $1,000,000 to $5,000,000. Needs a real value-add path: below-market rents, unit turns or deferred maintenance, occupancy upside, or an operations fix. Targets a minimum 10% cap rate on the post-value-add pro forma. Prefers buildings whose owners bought around 2020 to 2022. Will review an OM and rent roll.
03 · Area of Search