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  • Bill Herr

New Strategically Located Property in Highly Desirable Barrington, IL Added to Fund

The Infinite Alpha Opportunistic Fund, along with Gateway Advisors, one of our preferred partners, recently closed on a two-story building in the highly desirable Barrington market. The building is highly visible off Route 14/Northwest Highway with appealing identity and monument sign.

Originally offered at over $1,100,000, the bank owned property was purchased for an attractive price of $475,000. With a renovation and leasing budget of less than $150,000, the cost basis of the property should end up in the $50 per square foot range. At this price point, there is considerable upside as well as a margin of safety.

The fund has participated in two ways. First, the Growth Series is an equity partner in 50% of the building, and has a 14% preferred return on equity. In addition, the Growth and Income Series have a first mortgage on the property at an attractive 10% rate. This loan will be paid off as soon as the building can be renovated and leased out enough to qualify for a conventional commercial loan.

Visit the Barrington Executive Suites Investment Overview for detailed information on this investment.

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