Buildings wanted
Have a building? We'll look at it.
Petir Capital buys two- to twelve-unit brick and frame apartment buildings on Chicago's North and West Sides, renovates them and keeps them. Off-market is fine. A building that needs work is fine. Both principals answer their own phones.
What we look for
Two to twelve units. Brick or frame. North and West Side.
Every building in the portfolio fits this. It is not a formula so much as a description of what we know how to fix and hold.
The building
Two- to twelve-unit apartment buildings and small mixed-use, brick or frame, with or without a coach house. Legal non-conforming units and deferred maintenance are not a problem; we renovate everything we buy.
The neighborhoods
Where we already own: Pilsen and Heart of Chicago, Humboldt Park, Ukrainian Village and West Town, Bucktown, Logan Square, Roscoe Village and North Center, Irving Park, Lincoln Square. Nearby blocks on the same lines are welcome.
The situation
Tenants in place, vacant, mid-renovation or inherited. Estates, partners splitting up, owners who are done managing. We can close with tenants in place and leases transfer with the building.
How it goes
Three conversations, usually.
We are the buyer, so there is no listing, no marketing period and no commission on our side of the table. You deal with the two people whose names are on the company.
- 1 · Tell us about it
- Address, unit count and what the rents are. A phone call or an email is enough to start.
- 2 · We walk it
- One of us visits, usually within the week, and looks at the systems, the masonry or framing and the units we can get into.
- 3 · A number in writing
- If it fits, you get an offer with the price, the timing and what we need to close. If it doesn't, we will tell you why, and often who else should see it.
Would you rather sell on the open market? Mitir's brokerage practice at Essex Three-Twelve lists 3–12 unit buildings across the North and Northwest Sides, with a written opinion of value first. That is separate from Petir: when he represents you as a seller, Petir is not the buyer.
What is my building worth? ↗Talk to us
Call or email either principal directly.
Mitir Patel 773.209.4785 · Richard Pedi 312.371.3888. No forms, no intake call.
Contact details