Here's the story of how we turned a money-draining property into a success that had generated 5x returns in just two years.
2 years ago, we were pouring money down the drain.
The property was half-empty, needed desperate repairs, and was half vacant—every commercial real estate investor's dream scenario, right?
The Remarkable Turnaround
Today, that same investment generates 5x more than when I started.
This exact same building now:
- Has full occupancy
- Is becoming more profitable
- Has met the dreams of the community
In less than 24 months, we've increased NOI from $162,000 to $855,000.
And here’s how we did this.
The Hidden Potential
My 3 business partners and I saw a desolate building.
But what we also saw was a huge amount of potential.
We saw what this same building could one day be.
What made this property attractive despite its condition:
- 21,000 vehicles driving by daily
- 83,000 square feet on 5.7 acres in affluent Lake County
- 1 mile average household income of $122,000 (just under the average US household)
Transformation Strategy
We began to fix what was damaged.
From paving the car park to white-boxing the vacant units (creating a fresh canvas for businesses), we completely transformed the appearance.
Beyond Traditional Leasing
When it came to filling the property and sourcing tenants, we didn't just rely on brokers to lease the units.
Instead, we actively marketed ourselves through platforms like:
We also engaged directly with the community for outreach and feedback.
The Results
What have we achieved so far?
- 12 new tenants, from Subway to dance studios and hardware stores
- Less than $4 million spent in improvements
- Our trending NOI is $855K
It just goes to show that anything is possible when it comes to commercial real estate.
You just need a clear vision and an excellent team.
And our Lindenhurst Plaza project is a huge testament to that.
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