Pioneer Acquisitions acquires, improves, and manages multifamily rental buildings in urban neighborhoods with upward-trending fundamentals. Our mission is to identify submarkets in the early stages of revitalization and create a product that appeals to the tastes of the evolving renter demographic.
Our current focus is the City of Chicago, which has seen tremendous rental rate increases in recent years, driving renters out of established neighborhoods that have become increasingly unaffordable. Pioneer invests in neighborhoods that have benefited from this relocation, providing updated apartments at more reasonable prices.
Pioneer also takes a qualitative approach to identifying these evolving neighborhoods. Characteristics may include proximity to “L” train locations, availability of dining and entertainment amenities and recreational and cultural attractions. We also focus on neighborhoods with a strong institutional presence including educational and medical institutions.
Our approach is to purchase vintage buildings, primarily built in the first half of the 20th century, and upgrade units and common areas. Improvements include modern kitchens, bathrooms, flooring, and the inclusion of common area amenities where practical. The result is a living environment which couples character with contemporary.