122 Chestnut St, Springfield, MA 01103

ACCESS & CONNECTIVITY

The Property is served by multiple Pioneer Valley Transit Authority (PVTA) bus routes, providing convenient service throughout the city and region, with Union Station (0.5 miles away) serving as a major hub for Amtrak, CTrail, and intercity bus lines including Peter Pan and Greyhound. These connections link Springfield to Hartford, New Haven, Boston, and New York City. For drivers, Interstate 91 and Interstate 291 are both just minutes away, offering efficient regional access to the Massachusetts Turnpike (I-90) and surrounding metropolitan areas.

AREA AMENITIES & DEMAND DRIVERS

Surrounded by a vibrant mix of modern and historic amenities that make the area highly desirable. Residents enjoy an array of dining choices, from the food hall and renowned steakhouses at MGM Springfield to beloved local restaurants such as Student Prince Cafe, Max Tavern, and 350 Grill, all within walking distance.

The neighborhood delivers a robust retail and shopping experience with boutique stores, specialty outlets, and quick-service options downtown, as well as larger retail amenities like Holyoke Mall nearby and shops within MGM itself. Lifestyle perks include fitness centers, walkable green spaces, and excellent access to cultural landmarks like the MassMutual Center, Symphony Hall, and the Springfield Museums complex, which hosts attractions including the Amazing World of Dr. Seuss Museum.

Community engagement thrives through frequent public events such as the Harvest Festival at The Landing, ongoing family programs at Springfield City Library, and annual celebrations like the Springfield Jazz & Roots Festival.

RENTAL GROWTH & UPSIDE POTENTIAL

SilverBrick Square offers a clear loss-to-lease opportunity, with current inplace rents still below achievable market levels despite outperforming many competing properties. The heavy capital work has already been completed, allowing a new owner to capture immediate upside through rent increases rather than additional capex or unit turns. As downtown Springfield continues to revitalize, demand for amenity-rich, walkable housing is rising. Positioned firmly in the luxury rehab niche, SilverBrick Square is poised to benefit from this momentum—especially with Fair Market Rents in Hampden County projected to increase by 15% in 2026, further supporting rent growth potential.

CAPITAL IMPROVEMENTS

Roof Replacements: Two upper white roofs (above the 3rd floor) were replaced around 2018–2019, with all additional roofs replaced between 2020–2021. The property benefits from 20-year warranty coverage (details attached).

Elevator Modernization: Both elevators have been fully modernized, including new cabs and upgraded machine rooms, completed circa 2018–2019 for improved reliability and tenant experience.

Mechanical Upgrades: All boilers, tanks, motors, pumps, and HVAC piping were replaced prior to 2018, ensuring years of continued efficiency and performance. (Comprehensive warranty documentation available upon request.)

UTILITIES

The Property is separately metered for Eversource electricity, which tenants pay directly. The Landlord is responsible for gas powered hot water, heat, common electricity, and city water and sewer.

OFF-STREET PARKING & AMENITIES

• FOB Access for secure entry

• Rental Office staff 5 days a week

• Package Service offered

• 24 Hour Emergency Maintenance

• Club House Available upon request to tenants for fee

• 24 Hour Laundry Facility

• Parking Available to tenants for fee

STRONG RENTAL DEMOGRAPHICS & DEMAND

With over 137,300 residents within a 3-mile radius and an average household income of $74,375, the property benefits from a deep and growing renter pool. Downtown Springfield’s continued revitalization and its proximity to major employers, universities, and entertainment venues create sustained demand for quality, amenity-rich housing like SilverBrick Square.

QUALITY OF LIFE AMENITIES

The Property features modern comforts such as a 24-hour fitness center, resident lounges with free Wi-Fi, a landscaped courtyard, and secure covered parking. There has been over eight million ($8M) of capital put into renovating the Property in the last seven (7) years.

The neighborhood benefits from convenient proximity to cultural attractions including the Springfield Museums and the Amazing World of Dr. Seuss Museum, which host rotating exhibitions, performances, and family activities throughout the year. The MassMutual Center and Symphony Hall provide a packed calendar of sporting events, concerts, and conventions, while Springfield College’s nearby athletics program means residents can enjoy college basketball and other live sports every season.

Educational opportunities are prevalent with several well-regarded schools nearby, including the High School of Commerce, Springfield High School of Science and Technology, and Libertas Academy Charter School, supporting students from elementary through high school.