Peak Properties Adds 57 Student Apartments to Management Portfolio
Peak Properties assisted in the purchase and oversight of a multi-million-dollar gut rehabilitation of three vintage walkup buildings in Chicago’s Hyde Park neighborhood. In the process, the company added another 57 student apartments to its management portfolio
The properties are 98% pre-leased and move-ins have begun. The last two units are expected to have applications shortly.
“A group of local investors purchased the buildings steps from the University of Chicago campus over the course of the past two years with the intention of extensively renovating and reintroducing apartments designed to meet students’ needs,” said managing partner Mike Zucker.
“We saw what others didn’t, understand what these students want, and after taking the interiors ‘down to the brick’ we’re proud to reintroduce a unique design with modern amenities such as central heat and air, new kitchens and baths, exposed brick, and layouts with one-to-one bed-to-bath parity in most units.”
- ◦Sale/Acquisition
- ◦Development