Scott Krone Commercial Deal

 

Scott Krone Commercial Deal

Coda Management Group in Chicago, IL
Scott Krone with Martin Taradejna and James Lehmann

The building was the original Lincoln Log factory. We found it through a broker, and raised equity and debt for the purchase and repairs. We demolished all the old saw dust collection system both inside the building and on the roof. We removed the boiler, old electrical equipment, and fire suppression system. We installed new parapets, roof, insulation, fenestrations, HVAC, MEP, Fire suppression, flooring, and installed 613 self storage lockers. The facility is now open and run by CubeSmart.

Commercial Details


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Case Study

How did the FortuneBuilders team and resources help you to accomplish this deal?

We applied the concepts from the commercial academy. We acquired the building below replacement costs, improved the value of the building through a new use to increase the revenue. We retained third party management that specializes in the self storage industry. We have not sold the property, and holding onto it for passive income.