project · Bronzeville
3900 S Lake Park
3900 S Lake Park was sourced by the Landex team as an top development location due to its location blocks from the lakefront and 39th street exit at lakeshore drive. With our development partner Jack Properties and General Contractor Crown Construction we designed and delivered 2 new construction 3 unit walk up apartment buildings. Since completion we have seen strong rental demand delivering an investment outcome beyond our initial underwriting.
| Address | 3900 S Lake Park Ave., Chicago, IL 60653 |
|---|---|
| Units | 6 |
| Strategy | Build & Hold |
| Builder | Crown Construction |
| Timeline | Construction Complete, Stabilized, Refinanced to Permanent Term Mortgage |
Yield to cost
8.68%
Annual NOI / total project costs
Gross rent multiplier
8.56x
Total project costs / gross rent
TVPI
1.26x
Appraised value / total project costs
2025-10-31
Construction Complete
2026-06-15
Stabilized
2026-10-01
Refinanced to Permanent Term Mortgage
Past performance is not indicative of future results. This summary is not an offering and does not replace project-specific documentation.