Property details

McGovern House

Investment type

Value Add

Asset Class

Multifamily

Ownership Structure

Delaware Statutory Trust (DST)

Year Acquired

2021

Investment Summary

McGovern House is a luxury, Class A, 73-unit midrise apartment building located in Highland Park, an affluent suburb of Chicago known for its luxury homes, lively downtown, beautiful parks, and proximity to Lake Michigan.

The six-story Property was originally built in 2017 and features 114 parking spaces spread amongst garage spaces, single carports and tandem carports. Building amenities include a fitness center, a secure package room, a roof deck, an outdoor park and BBQ area, bike storage, and storage units.

Syndicated structured its acquisition as a Delaware Statutory Trust (DST) to accommodate investors completing a Section 1031 Exchange.