On Dec. 14, 2023, Breneman Capital sold an apartment property located at 3332 W. Palmer St. in Chicago.
The property was built in 2009 and consists of eight total units, including six three-bedroom/two-bathroom and two four-bedroom/three-bathroom floorplans. The apartment building is in Chicago’s Palmer Square neighborhood — an area of the city that is well-known for the arts, dining/nightlife and public parks.
Breneman Capital originally purchased the property in October 2019. Upon closing the transaction, Breneman Capital worked to improve the property substantially by addressing all deferred maintenance, replacing all water heaters and providing upgrades to the unit interiors. Unit interior renovations included replacing all carpeting with new vinyl floors, refreshing paint and refinishing the hardwood floors among other items.
In total, Breneman Capital was able to increase income by 33 percent over the hold period. Moreover, they increased the valuation
