913 W School
Executive Summary
On February 22, 2018, 913 School LLC closed on the acquisition of a parcel of vacant land in the highly sought-after Lakeview neighborhood of Chicago, IL for $1.85 million. At acquisition, the parcel was being operated as a parking lot. North Park Ventures (“Sponsorship”) developed a five-story, Class-A, multifamily building comprising 22 residential units and an 11-space indoor parking garage. The property consists of 12 one-bedroom one-bathroom units, 8 two-bedroom two-bathroom units, and 2 three-bedroom two-bathroom units while offering residents best-in-class unit finishes including 10-foot ceilings and floor-to-ceiling windows.
Key Metrics
Vertically Integrated Capabilities
Acquisitions
Through our extensive network across the country, NPV specializes in sourcing and acquiring properties that offer superior risk-adjusted returns for our investors.
Development
With our team's 80+ years of combined experience, we are able to successfully execute developments ranging from ground-up projects to historic renovations.
Community Engagement
As part of the development process, our team engages with elected officials and community leaders to gather input to create projects that benefit the local neighborhood.
Entitlements
NPV works with local municipalities to pursue zoning changes and administrative adjustments when appropriate to allow for the highest and best use of a development site.
Asset Management
By being fully vertically integrated, our team employs a hands-on approach to every aspect of a property's operations to ensure compliance and optimize performance.
Construction Management
With decades of construction experience, NPV offers a full suite of construction services from pre-construction feasibility studies to post-construction warranty management.
Construction
As a vertically integrated real estate firm, NPV's affiliate, Quadrel Construction, is a fully licensed General Contractor able to perform a wide variety of construction projects.
Property Management
Our property management firm, Quadrel Realty Group, is committed to offering superior service and transparent lines of communication to all of our residents and commercial tenants.
Leasing
Our full-time in-house leasing team develops and executes marketing and leasing campaigns to achieve above-market rents in accordance with our leasing schedules.
High Value Design
Our team spends considerable time during the pre-construction phase to efficiently design unit layouts that maximize revenue and minimize operating expenses.