Chicago OZ Project

Chicago multi-family housing project in neighborhood experiencing massive growth

This single asset QOZ Fund is 264 units built in 3-unit multi-family buildings in the Bronzeville neighborhood of Chicago. The project was recently awarded the Most Impactful Project at the July 2021 Opportunity Expo Conference. The Bronzeville neighborhood is experiencing massive growth driven by two large projects that are infusing $10+ billion in economic development and 55,000 new jobs. The Michael Reese Hospital Redevelopment will have 7.8 million in new mixed-use space with a $3.8 billion budget. The Obama Presidential Center will create 7,500 new jobs and attract 700,000 annual visitors. The Eagle OZ project has an expected IRR of 20% (after tax) with a 6% preferred dividend. GP incentives will not be paid until a 9% IRR is achieved for investors. The project has a $100,000 minimum investment.
The developers for this project (Jamie Nahon and Scott Allbright) have over 30 years experience in building in Chicago and expertise in Chicago OZ Tracts.