Location: 7800 S. Sangamon Street, Chicago
Completion Date: November 1998
Duration: 5 months
Project Scope / Description:
Quest Development Group is the owner, developer and general contractor of Malcolm Manor™, a 21-unit apartment complex in the Auburn-Gresham community. The building, which had been plagued by deferred maintenance and absentee ownership, was completely renovated. The total development cost was $390,000. Initial gross income was $117,500 per annum, and the return on equity to date is 37 percent. 100 percent occupancy was reached in November 1998.