Inland Private Takes DST Full-Cycle with 157% Total Return

Inland Private Capital Corporation, a sponsor of 1031 tax deferred exchanges, has sold Kimball Station, a 59-unit apartment property with 6,000 square feet of ground-floor retail space located in Chicago, for $15.24 million.

Inland Private Capital Corporation, a sponsor of 1031 tax deferred exchanges, has sold Kimball Station, a 59-unit apartment property with 6,000 square feet of ground-floor retail space located in Chicago, for $15.24 million.

The property was sold on behalf of Chicagoland Multifamily DST, one of Inland Private’s Delaware statutory trust programs.

“Chicagoland Multifamily DST was another successful full-cycle transaction on our multifamily investment platform for IPC’s investors,” said Keith Lampi, president and chief operating officer of IPC. “We purchased the property in 2012, and it provided consistent income and a substantial profit on the sale, resulting in an 8.17 percent average annualized return to investors.”

The company noted that the sale resulted in a total return to investors of 157.12 percent (calculated based on the aggregate amount of original capital invested in the property).

Located in the Albany Park neighborhood on Chicago’s northwest side, Kimball Station consists of a five-story building constructed in 2009 and includes a mix of one-, two- and three-bedroom units.

The property is located across from the Brown Line Commuter Rail Station, which serves more than 1.3 million passengers per year, and is approximately eight miles north of Chicago’s Central Business District.

As of the date of the sale, the property was 98.3 percent leased.

Inland Private Capital Corporation, based in Oak Brook, Illinois, offers replacement property investments for participants of 1031 tax deferred exchange, as well as opportunities for accredited investors who are seeking a real estate investment. As of March 31, 2019, the firm had sponsored 237 private placement programs with 644 total properties, including more than 19,000 residential units.

As of June 30, 2019, Inland Private had sold more than $770 million in assets within the residential sector, including both multifamily and student housing properties.

Visit Inland Private Capital Corporation in The DI Wire’s directory here.