Richmond Revival

• Add density. Leverages Chicago’s pilot ADU ordinance to add density to an existing property

• Area Affordability.  Increased density keeps area real estate costs down

• Affordable. Rents lower than those in the city center  

• Lots of light.  Extra-wide lot creating permanent southern exposure

• Walkable. Very walkable, good transit and a biker’s paradise

We are acquiring and redeveloping a two-flat property at 1637 N Richmond in Chicago into a fully renovated, three-unit rental property. The project involves remodeling the existing structure to create three distinct, market-rate units: a first-floor flat, a spacious duplex-up occupying the second floor and attic, and a new Accessory Dwelling Unit (ADU) in the basement. Particular attention will be paid to details that provide good energy performance and tenants wellbeing, such as under-slab foam and thoughtful HVAC.

The project's core strategy is to maximize the property's income potential by creating three streams of revenue on a single parcel. By leveraging Chicago’s ADU ordinance, we are increasing the property's Net Operating Income (NOI) and potentially its overall asset value. The finished project is planned to deliver a turnkey, cash-flowing asset that can meet the high demand for quality rental housing in the neighborhood. Upon stabilization, we plan to refinance the property and return all initial investor capital and dividends, while our firm retains the stabilized asset for its long-term rental portfolio.

The building has approximately 4,275 square feet of livable space across four levels. Units planned include the basement ADU (1,102.95 s.f.) a first floor rental (1,102.95 s.f.) and an Owner's duplex occupying the second and third floors of the building, totaling 2,068.47 square feet.

We plan to enhance the building with the following improvements:

Building layout. Utilize the attic to create a primary suite over an entire floor; convert the rear stairs into liveable space; dig out the South East end of basement to allow plenty of South light in.

Modernize. Move kitchens to overlook living rooms and add additional bathrooms to create master bedroom suites 

Rear porch. Add large windows to create an outdoor living space feel.

Designer finishes. An interior designer has selected on-trend fixtures and finishes that complement the home and neighborhood.

Existing infrastructure. Utilize the existing structure wherever possible to avoid unnecessary waste and expense.

Strategic updates. Increase property value through strategic updates and by increasing the number of units.

Specific renovation plans include

• Interior: Refinish floors, ensure adequate insulation and sealing.
• Basement: Increase basement ceiling height by pouring a new slab or underpinning existing foundation wall if needed. Add two inches of foam under the slab to increase tenant comfort.  
• HVAC: Install new systems in both the basement and first floor.
• Plumbing: Replace galvanized pipes with copper and install new hot water heaters.
• Electric: Upgrade existing systems.
• Exterior: Replace siding and windows.

Timeline.

Renovations began in July 2025 and are expected to be completed by May 2026. We plan to begin marketing the property for rent around April 2026. Historically, 2 to 4-unit properties have rented within two months in this neighborhood, making the project eligible for refinance approximately 30 days after 100% lease up. Therefore we are estimating having the property fully occupied by July 2026 with a refinance in September 2026. Distribution of funds to investors is expected to follow once the refinance is complete.  Our anticipated  timeline is as follows:

• Acquisition. July 2024
• Permitting approvals. June 2025
• Construction start. July 2025
• Marketing start. April 2026
• Construction completion. May 2026
• Anticipated refunance date. September 2026

We have created a mathematical calculation based on our current assumptions about the Project's completion and operations. We estimate refinancing the project 18 months after construction starts, with $50,000 in cash resulting from the refinancing and an additional approximately $65,000 in net cash flow from rental operations over the next five (5) years. 

Our calculation shows that an early bird $5,000 investment might return $5,755 over the first year while a regular investment of $5,000 might return around $7,680 over five years. 

Some of our assumptions will prove to be inaccurate, possibly for the reasons described in the Risks of Investing. Therefore, the results of investing illustrated in our calculation are likely to differ in reality, for better or for worse, possibly by a large amount.

Please also review to the LLC Agreement, for additional detail on how distributions will be made.
 

Robert Linn is a real estate professional and developer whose passion for craftsmanship was ignited in his family's woodshop during his childhood. This laid the foundation for a career dedicated to quality and innovation in the built environment. Robert holds dual degrees in Architecture and Engineering from the University of Michigan, providing an educational foundation that underpins his multifaceted expertise. He began his career in ship design before transitioning into consulting, where he applied his technical skills to the real estate sector. His commitment to continual growth led him to earn a double major in Finance and Management from Indiana University on a scholarship, further enhancing his ability to navigate complex financial landscapes.

While still in college, Robert purchased his first property, marking the beginning of his entrepreneurial journey. Balancing a full-time job and his studies, he launched his own company in 2004. Since then, he has been involved in over $300 million  dollars in real estate transactions, providing broad experience in the industry. Point B Properties specializes in the renovation and development of residential properties in Chicago. With a foundation in architecture and engineering, the company focuses on transforming spaces to meet market demand. Robert’s expertise spans consulting and general contracting, and he is dedicated to quality, efficiency, and integrity—building long-term relationships with both investors and the community.

Robert is not just about building properties; he's about building them right. Recognized for his contributions to energy-efficient building—such as constructing the first Green Star certified condo building—he has a keen interest in the evolving landscape of design and building science.  His dedication is further exemplified by his LEED certification and his role as one of the early adopters of HERS-rated developments.

Infusing his projects with a blend of practical experience, technical expertise, and theoretical knowledge, Robert strives to ensure that each development is innovative, efficient, and sustainable. His multidimensional perspective allows him to deliver solutions that align with contemporary standards and anticipate future market needs.

Investment Opportunity in Logan Square. Chicago’s housing fundamentals remain solid: home prices have been broadly stable to modestly rising in 2025 per the S&P CoreLogic Case-Shiller Chicago index, while apartment vacancy tightened to ~4.7%, one of the lowest vacancy rates of any large U.S. market, outside of Southern California and New York. Illinois market studies also point to a structural housing shortfall that continues to support rents and values, even as higher mortgage rates temper sales velocity.

Neighborhood Overview and Rental Market. Logan Square has been recognized as one of the world’s coolest neighborhoods, celebrated for its blend of accessibility and community-focused amenities. The area boasts a vibrant cultural scene, an eclectic mix of dining and entertainment options, and proximity to public transportation, making it highly attractive to a diverse range of residents. With housing options remaining competitive, this project is well-positioned to capture interest from both owner-occupants and investors seeking properties that promise robust, long-term value appreciation.

Financial Incentives for Owner-Occupants
The property is eligible for favorable financing options, which expands the pool of prospective tenants and creates additional demand:

• FHA Financing: Allows buyers to finance the property with as little as 3.5% down, reducing entry barriers and making owner-occupancy more affordable.
• Fannie Mae Financing: Allows for 5% down payments on loans up to $1.4 million for 4-unit properties, further enhancing accessibility for buyers who plan to occupy and rent out part of the property.

These programs make the property attractive for owner-occupants, who can use rental income from additional units to offset their mortgage costs, making Logan Square properties especially appealing for new homeowners.

ADU Ordinance and Flexible Use Potential. This property is located in one of Chicago’s few designated ADU pilot areas, allowing for the addition of an extra dwelling unit under the city’s 2020 ordinance. Created to address housing supply and density challenges, the ADU ordinance offers flexibility: the additional unit can be used as a rental, guest suite, or even a workspace. This designation enhances the property’s value and appeal, aligning with city initiatives to stabilize housing prices and expand living options.

Total acquisition and development costs of approximately $1.08 million are planned to be financed with a bank loan of approximately $892,500 for acquisition and construction, along with Sponsor equity of $107,500 and the $80,000 raised through this offering. The Company expects to refinance the Property within 18 months after construction begins. 

Investor distributions are expected to be made, per the LLC agreement, after all debts have been paid. The financing assumptions to purchase and develop the project are as follows:

The Property was purchased for $475,000. Upon completion of the conversion and lease-up, we plan to execute a cash-out refinance of the property based on its new, higher appraised value as a three-unit rental. This capital event is designed to repay all investor equity and the preferred return.  See tables below:

Rent Comparables. The following table summarizes the market rental data for comparable multi-unit properties in the vicinity, as provided by the appraisal report. This data supports the pro forma rental income projections for the three newly renovated units at 1637 N Richmond.

And recent sales of renovated duplexes of similar size indicate that a sale, if needed, would safely exceed project costs:

The Company is engaged in a Regulation Crowdfunding (Reg CF) offering (the “Offering”) to raise money for the renovation of a two-flat property, located at 1637 N Richmond in Chicago, Illinois 60647, into a three-flat property.

We are trying to raise a maximum of $80,000, but we will move forward with the Project and use investor funds if we are able to raise at least $25,000 (the “Target Amount”). If we have not raised at least the Target Amount by 11:59 PM EST on April 30, 2026 (the “Target Date”), we will terminate the Offering and return 100% of their money to anyone who has subscribed.

The minimum you can invest in the Offering is $1,000. Investments above $1,000 may be made in $500 increments (e.g., $1,000 or $1,500 but not $1,136). An investor may cancel his or her commitment up until 11:59 PM EST on April 28, 2026 (i.e., two days before the Target Date).

If we have raised at least the Target Amount we might decide to accept the funds and admit investors to the Company before the Target Date; in that case we will notify you and give you the right to cancel. After we accept the funds and admit investors to the Company, whether on the Target Date or before, we will continue the Offering until we have raised the maximum amount.

Investments under Reg CF are offered by NSSC Funding Portal, LLC, a licensed funding portal. You can review the Form C and disclosure packet here or on the SEC website where it is registered.
 

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment.

In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature.

These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.

There are numerous risks to consider when making an investment such as this one and financial projections are just that - projections. Returns are not guaranteed. Conditions that may affect your investment include unforeseen construction costs, changes in market conditions, and potential disasters that are not covered by insurance. Please review our Risks of Investing more expansive list of potential risks associated with an investment in this Company.

Unless otherwise noted, the images on this page are used to convey the personality of the neighborhood in which the project is planned. Properties shown in these images are not included in the offering and Investors will not receive an interest in any of them.