We are syndicating the property we recently purchased at 3750 Stern Ave, a 22,026-square-foot industrial building in St. Charles, Illinois, in suburban Chicagoland. 

The total acquisition cost is $2,600,000, including the $1,900,000 purchase price, approximately $350,000 for fix-up costs, and an additional $230,000 for lease up costs and cash reserves. 

This acquisition is commonly known as a value-add investment. We are making physical improvements to the building. Our strategy is to complete the fix-up and source a new tenant. 

We anticipate a lease-up period of approximately 90 days, after which the projected yield on equity will start above 7% in the first year, with annual escalations.  

Most importantly, the property is being acquired debt-free for enhanced financial safety.