Top1031
Kimball Station
Multifamily property in Chicago, IL · sponsored by Inland Private Capital
Kimball Station was a DST sponsored by Inland Private Capital that owned a multifamily property in Chicago, IL (59 units). Its last Form D, filed May 22, 2013, reports the offering fully sold.
How it ended
Sold, result reported by the sponsor
The last Form D, filed May 22, 2013, reports the offering fully sold.
Key facts
- Minimum investment
- $25,000From the Form D
- Offering size
- $7,754,945Equity offered, per the Form D
- Sold
- 100%Form D, May 22, 2013; the % is our arithmetic
- Investors reported
- Form D, May 22, 201342
- Selling commissions
- Form D Item 15; the % is our arithmetic$542,846 · 6.9% of offering
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.How it is financed ↓
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
Figures come from SEC Form D filings unless a source is cited. Sponsor-stated figures are as reported by the sponsor; Top1031 does not independently audit them. On a 45-day clock? Find day 45 and day 180 →
Using this record to judge the sponsor? A licensed 1031 specialist from our affiliated partner can talk it through with you.
Ask a 1031 specialist about this recordFree. About: Kimball Station. Top1031 is not a broker-dealer.What did Kimball Station own?
Kimball Station began as a condominium project in Chicago's Albany Park neighborhood and was converted to one-, two- and three-bedroom rental apartments in 2009, with commercial space at street level and underground parking. 1 An Inland Real Estate Group unit paid $11.8 million for the building at 4730 N. Kimball Ave. in April 2012, five months before the Trust's first Form D notice. 1 Crain's reported every apartment leased at that time, with under half the commercial space occupied. 1
- Reported location
- Chicago, IL
- Property size
- 59 units; 6,118 square feet of ground-floor retail
How was it financed, and what did it cost to sell?
Neither the Form D record nor Inland's sale announcement states whether the Trust carried mortgage debt, and no lender, loan amount, or maturity date appears in the public record for this Trust.
Debt
- Financing
- Not in the Form D. The Form D for this offering does not say whether it carries mortgage debt.
Costs and terms from the Form D
- Selling commissions
- $542,846 · 6.9% of offering
- Finders’ fees
- $0
- Paid to officers, directors and promoters
- $844,495 · 10.8% of offeringForm D Item 16
- Broker-dealers named in the Form D
- 18 named in the Form D
Show the firms
- Ameritas Investment Company, LLC · CRD 14869
- Berthel, Fisher & Company Financial Services, Inc. · CRD 13609
- Centaurus Financial, Inc. · CRD 30833
- Concorde Investment Services, LLC · CRD 151604
- Concourse Financial Group Securities, Inc. · CRD 15708
- Crown Capital Securities, L.P. · CRD 6312
- Hagen Securities, Inc. · CRD 27353
- Harbour Investments, Inc · CRD 19258
- Independent Financial Group, LLC · CRD 7717
- Inland Securities Corporation · CRD 15807
- Investors Capital Corp. · CRD 30613
- J.P. Turner & Company, L.L.C. · CRD 43177
- McDermott Investment Services, LLC · CRD 154926
- Newport Coast Securities, Inc. · CRD 16944
- Northland Securities, Inc. · CRD 40258
- Sandlapper Securities, LLC · CRD 137906
- Sigma Financial Corporation · CRD 14303
- Western International Securities, Inc. · CRD 39262
Individual representatives named in Item 12 are not listed.
- Date of first sale
- Sep 13, 2012
- Minimum investment
- $25,000
Form D Item 15 and Item 16 amounts may be the issuer’s estimates; each percentage is Top1031’s arithmetic on two Form D figures. Item 16 can overlap Item 15, so Top1031 does not add them together. The issuer marked these amounts as an estimate.
Who's behind Kimball Station?
Inland Private Capital, based in Oak Brook, Illinois, sponsors 1031 exchange programs; the Form D names it alongside Chicagoland Multifamily, L.L.C. and Chicagoland Multifamily Exchange, L.L.C. as promoters. 3 On September 3, 2019 it announced that its asset-management subsidiary had facilitated the property's $15.24 million sale, and reported an 8.17 percent average annualized return and a 157.12 percent total return to investors, calculated on original capital invested. 2
- Sponsor
- Offerings on record
What does the SEC record show?
Form D — the brief SEC notice used for private placements exempt from registration — is the Trust's only public filing type, first lodged in 2012 and amended through 2013 until the offering was fully subscribed. Interests were sold under Rule 506(b), which bars general advertising and limits buyers to accredited investors.
- Legal Trust name
- Chicagoland Multifamily DST
- SEC CIK
- 1553864
- First Form D
- Sep 26, 2012
- Latest Form D
- May 22, 2013
- Filings on record
- 7
- Offered under
- Rule 506(b)General advertising and solicitation are not permitted under this exemption.
- Source filing
SEC Form D filings, newest first
| Filed | Form | Offering amount | Amount sold | Investors | Filing on SEC EDGAR |
|---|---|---|---|---|---|
| Form D/A | $7,754,945 | $7,754,945+$1,772,654 | 42+2 | EDGAR | |
| Form D/A | $7,754,945 | $5,982,291+$1,185,042 | 40+9 | EDGAR | |
| Form D/A | $7,754,945 | $4,797,249+$515,000 | 31+3 | EDGAR | |
| Form D/A | $7,754,945 | $4,282,249+$483,114 | 28+5 | EDGAR | |
| Form D/A | $7,754,945 | $3,799,135+$87,606 | 23+1 | EDGAR | |
| Form D/A | $7,754,945 | $3,711,529+$200,000 | 22+2 | EDGAR | |
| Form D | $7,754,945 | $3,511,529 | 20 | EDGAR |
Amounts, investor counts and minimums are as filed with the SEC on Form D. The change lines are Top1031’s arithmetic between consecutive filings; a new Form D notice starts a new count.
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
Common questions
- What happened to Kimball Station?
- Kimball Station is a Historical offering. The last Form D, filed May 22, 2013, reports the offering fully sold.
- Did investors receive a reported result?
- Yes. In its September 3, 2019 announcement, Inland reported an 8.17 percent average annualized return and a 157.12 percent total return to investors, calculated on original capital invested. Those figures are the sponsor's own completed-sale reporting; no independent verification was located.
- Was the Trust leveraged?
- The public record does not say. Form D filings do not report debt, and Inland's sale release names no lender or loan. Any mortgage, its balance, and its terms would be described in the offering documents and closing documents.
- What kind of property was it?
- An apartment building with ground-floor retail in Chicago's Albany Park neighborhood. Crain's reported it was built as a condominium project, converted to one-, two- and three-bedroom rentals in 2009, and included commercial space and underground parking.
- How was the offering sold?
- Under Rule 506(b) of Regulation D, which permits a private placement without general solicitation or advertising and, in practice for this type of program, limits purchasers to accredited investors who meet SEC income or net-worth tests.
In the news
Sources
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DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current offering documents before investing.