The Lawrence

2247-49 West Lawrence, Chicago, IL, 60625
Strategy: Value-Add
Status: Current
Purchase Price: $7,100,000
Acquisition Date: 8/30/2024
Size: 25 Units
Repeat Broker, Distressed Seller

Breneman Capital acquired The Lawrence while the property was subject to a pending foreclosure action (Article Link).

Built in 2018, The Lawrence is a mixed-use investment property in Chicago’s heavily populated Lincoln Square neighborhood. The building is positioned southeast of Oakley and Lawrence Avenue corner, less than 0.6 miles from the Western Brown Line CTA Station.

The 26,000 leasable square foot building sits on 6,150 square feet of land. The Property contains one retail space and 24 residential units (Six One-Bed Units, Four Two-Bed Units, and 14 Three-Bed Units). The apartments feature quartz countertops, white cabinets, stainless steel appliances, separate HVAC, dishwashers, on-site parking, and laundry in-units. The property also features a rooftop deck with seating and an outdoor TV for its residents, which is accessed by the elevator. The retail space offers Breneman Capital multiple value-add options.

The Property features a strong demographic profile, with a 1-mile average household income of nearly $117,000 and a median home value of $459,000.