Dear Clients and Investors,

Patch of Land, Inc and its team was acquired in July of 2021. As part of our continuing efforts to wind down legacy operations, we have discontinued the legacy online portal as of August 15th, 2023

If you require legacy records or have any questions regarding past investment projects, please contact us at this address: [email protected]. Tax statements will still be timely delivered to the client addresses we have on file.

The Patch of Land Blog

Learn about all the latest happenings.

Innovative Development Sparks a Micro-Home Craze

Chicago, now regarded as "Growing Communities Central" in my eyes, joins the micro-home craze in a BIG way. From large building real estate renovation creating mini-residential apartments, to industrious families efficiently creating single family residences (SFR), the micro craze could solve the space and affordable housing deficit. When we first reported on Tiny Homes, making a big difference, there was much buzz about micro-everything predicted to sprout up everywhere, this innovative development found room. Adam Hengels of themicromaker.com refers to the buzz that spanned 2014 as “Much talk and little action.” Yet, 2015 is shaping up quite differently. Many community members, especially those leading community development in Chicago, are anxious to adopt micro living. What is driving the interest? Economics, demographics, green living, simpler living and technology.

 

Innovative Development Turns Micro

Innovative developmentEven apartment buildings are moving to micro. Heavy on the outside, strategically light on the inside, large buildings, like the Busch Temple of Music, have the potential to make the best of limited space, the power of simplified lives, and the opportunity to provide additional units of affordable housing. The Cedar Street Companies, purchased the 7- story building, with ground-level retail space and top-level office space for $12.5 Million and has great micro plans for the iconic building. Soon to be known as Flats #800, Gold Coast, Chicago, the historic building on 800 Clark Street will encompass several 350-to 450 sq ft apartments. It will be one of several micro apartment projects that Cedar Street Companies have redeveloped and rented out. A prime project to attract a group of innovative real estate crowdfunding investors.

Named a local landmark in 2001, and listed in the National Register of Historic Places, renovation will take great care. Alex Samoylovich has estimated renovations of the interiors alone to cost $15 Million, and the facade to cost $2.5 Million in addition to the purchased price. I am interested to follow the progress of this venture, that according to current plans, will include a fitness center, a ground-floor lobby and a garden with barbecues, and more. I hope the fitness center is large enough to prevent having to share spin-bikes. If those go tandem, I will be instantly cured of my micro home fascination.  There doesn’t seem to be any lack of space, though. The transaction closed also including two smaller non-historic commercial properties nearby, which can be developed for a variety of new development uses.

Related: Tiny House Huge Purpose

 

The SFR Microcosm

From the tiniest most simplified homes designed to help a desperately homeless neighbor to couples and small families simplifying, all are viewing the progression to mini existence as a value affirming accomplishment. Chicago, seemingly the Growing Communities catalyst for the nation, will host a Tumbleweed Tiny Home Workshop. The Dream Big, Live Tiny message includes inspiring the DIY community, who often make creative use of innovative development byway of creating crowdfunding opportunities. “Tumbleweed’s 2-day Chicago workshop is packed with all the insightful and extensive information you’ll need to design and build your very own tiny home- setting you on a path to a simplified, environmentally-friendly, economically balanced life-style.” Whether interested in the tiny home revolution for personal use, or from an investment perspective, this 2-day period could prove to be fruitful. Tumbleweed visits Chicago, September 12th - 13th 2015.

 

 

But if you are more like I, and fear burning down a neighborhood, should someone entrust you with power tools, do not despair, there are a even pre-fabricated micro spaces: from planted, to mobile, one story to two. Tumbleweed’s Amish Bar-Raiser save builders 100-200 labor hours, and this is what you get:

  • Tumbleweed Trailer:  Trailer includes brakes, lights, underside flashing & more.
  • Sub Floor: We fully insulate the floor, which is cleverly embedded into the trailer.
  • Head Space: Our trailer's unique design provides an extra 3.5" of head room.
  • Walls & Roof:  Stick-built walls and roof are framed and attached to the trailer.
  • Secured:  8 engineered Simpson Strong tie-downs and engineered strapping.
  • Water Resistant: Framing sheathed in zip boards, an integrated vapor barrier.
  • Roof Protected: Ice and water shielding applied. (Full metal roof is option.)
  • FREE Plans: Get a free set of plans with your Barn Raiser.

 

Living Off The Grid

Tiny Homes Innovative Development Lamar Alexander's Off-Grid Tiny House

Micro, Mini, Tiny are all terms to label a widespread simplification trend that has also proven to benefit environmental impact goals. With incorporation of innovative development, green technology, Planet Forward tells us that it is possible to live “net zero and completely off the grid.” Even connected to traditional energy sources, utility consumption would be greatly reduced. Boneyard Studios/Micro Showcase, founded in British Columbia in 2012, takes the tiny house revolution a step further by defining their company as: “A showcase of tiny houses on wheels with a mission to demonstrate creative urban infill, promote the benefits of tine houses, support other tiny house builders, and model what a tiny house community could look like.”  Not only has the micro home trend inspired simplification, ecological preservation, and mobility, the tiny house movement, through micro-home companies like Boneyard Studios, is empowering individual humans, while also inspiring thought toward a free team approach to preserving our world while growing communities.

Related: Tiny House Living, Off the Grid

So what would you do if a simplified space was in your future?  Will you chose one in a traditional apartment building? Or a free-standing model that can easily be moved as nomadic notions take hold?

If you want to learn more about what initiatives have positively changed the landscape of Chicago's real estate market, take a look at our FREE analytic whitepaper - The Chicago Report.

Patch of Land Chicago Report
Also, i
f you're curious how Patch of Land can work for professional real estate developers and accredited investors, please visit Patch of Land’s FAQ section and learn more today.



If you want to learn more, take a look at some of the most commonly asked questions we receive about real estate crowdfunding on a daily basis and find out why so many people are crowdfunding real estate projects across the country with Patch of Land.
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If you still want to know how Patch of Land works for professional real estate developers and accredited investors, please visit Patch of Land’s FAQ section and learn more today.

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