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Founded in 2007 by Keegan Bonebrake and Carey Overstreet, Sibley Partners is a real estate investment firm that acquires, renovates and operates multi-family assets in Chicagoland neighborhoods. The company targets properties that are located near mass transportation and can be repositioned by adding capital improvements and implementing the company's institutional-level property management platform.
Sibley Partners has an attraction to this product for many reasons, including market and operating inefficiencies, along with a lack of competitive institutional interest and professional management. The vast majority of apartment properties in Chicago neighborhoods are owned and operated by private individuals who have other professional careers unrelated to real estate investments. Those individuals who do own and/or manage these assets on a full-time basis frequently do not choose to access sophisticated consultants and oftentimes maintain no accounting or recordkeeping system whatsoever. This operating inefficiency has created an opportunity for Sibley Partners to outperform the competition by applying a sophisticated investment approach, uncovering latent value opportunities and implementing an institutional-level property management platform. |
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