Westchester Office Center

1107-1127 Manheim Rd. and 10220 Roosevelt Rd. Westchester, IL

When this 134,000 square foot, three-building complex was acquired, the occupancy rate was well below 40%. After a major investment to upgrade and re-configure the property, including the replacement of an existing parking structure with underground parking and the installation of a fire sprinkler system, the occupancy at this self-managed and leased property has increased by over 50%.

2 E. 8th

Chicago, Illinois
330 units

Ansonia affiliate purchased the non-performing first mortgage note on this 28-story mixed-income high-rise provided a path to acquisition of the fee interest at a time when tax considerations ruled out a sale by the owner. Ultimately the property was acquired by a deed-in-lieu of foreclosure. Net operating income from the 330 apartments, 204 parking spaces and 30,000 square feet of retail space increased by more than 150% in the first full year of operation, as new management practices were implemented and rents were rationalized and brought to market rates. To help support the repositioning of the property, the common areas were renovated and deferred life-safety and maintenance items were addressed.