The Flats at Gladstone

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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada. © 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.

CONTACT Info

mortgage banking

investment highlights

964

AVG UNIT SIZE

168

UNITS

1977

year built

overview

PETE EVANS

Senior Managing Director 847.226.0836 | pete.evans@berkadia.com

richard evans

Senior Director 773.991.3321 | richard.evans@berkadia.com

INVESTMENT SALES

EXCEPTIONAL DEMOGRAPHIC DRIVES RENTS HERE: Stellar Rent Growth: 5% (April 2025) — 5X U.S. Average (2 miles) 97.7% Occupancy (1 mile) A RECORD HIGH since 2000 98% Projected Occupancy for 2025-2029 (1 mile) A RECORD HIGH since 2000 26.1% Rent Wallet Share | 32.4% Home-Owning Wallet Share #7 Lowest Rent Wallet Share of Chicago’s 25 Major Submarkets 4.5% Household Growth: 2010-2020 (1 mile) $136,162: Average Household Income (5 miles ) $360,000: Median Home Value (5 miles) Renters Stay Put Here: 8.3 Years — Avg. Residency (1 mile)

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125 South Wacker Drive, Suite 400 Chicago, IL 60606 Phone: 312.845.8500

Chicago Office

VISIT DOC CENTER

MULTIPLE REVENUE-GENERATING VALUE-ADD STRATEGIES

the opportunity

Full Value-Add, Optimal Optionality, Proven High Demand + Location: Value-Add Renovation Program for All 168 Units: Expand Upon Intelligent Updates Made and Standardize Across Units Plan Includes: SS Appliances | Tile Backsplashes | Resurfaced Laminate Counters | Paint Cabinets White & Add Hardware | Vinyl Plank Flooring in Living Rooms, Hallways, Kitchens, and Bathrooms | Light-Hue Refresh for Bathrooms Cost (estimated): $10,000 / Unit ROC: 30% | RENT INCREASE: $250 / Unit Option to Acquire Remaining Units in Community: 3 Non-Owned Buildings | 18 Total Units Potential to Build Stand-Alone Clubhouse with Fitness Center: New Addition is Essential to Making Two (2) Units Rentable Again Will Expand Community Amenities and Elevate Entire Property Preliminary Engineering Plans Available Existing Washers & Dryers (Individual to Each Unit) = Key Rent-Driving Differentiator and Renter Draw for Vintage Assets I-355 Location (2.5 miles) is a Bullseye for: Fortune 500, Fortune 1000, and Major Corporate HQ Jobs Including: NOW Foods (1.7 miles — 1,500+ Jobs), UChicago Medicine / Advent Health (2.5 miles — 400+ Jobs) Dover HQ ($8.5 Billion Fortune 500), and TreeHouse Foods HQ ($3.5 Billion Fortune 1000) Walkables: Jewel-Osco, Aldi, Subway, Jimmy John’s, Home Depot, Taco Bell, Smoothie King, and Gladstone Park 5-Minute Driveables: Target, Walmart Supercenter, Olive Garden, Macy’s, Best Buy, and Wheaton College Overlooks Gladstone Park + Surrounded By: Forest Preserves, Golf Courses, and Country Clubs Glendale Heights — A-Grade by Niche: Public Schools | Good for Families | Health & Fitness | Outdoor Activities | Nightlife | #19 Best High School in IL

jason bond

Managing Director j847.997.9783 | jason.bond@berkadia.com

PROPERTY VIRTUAL TOURS