1530 Washtenaw Partners, L.L.C.

What is 1530 Washtenaw Partners?

In the fall of 2004, concerned brothers from all over the country began to put their heads together via email, phone calls and face-to-face meetings in search of a way to renovate our 80-year-old chapter house. It became evident that the traditional way of fund-raising was not going to work since there was no guarantee that the house would be kept in good condition once renovations were completed.

The solution was the formation of a new business entity: 1530 Washtenaw Partners, L.L.C. This entity was created with the goal of purchasing the chapter house from ATCHA, facilitating renovations to the building, and then leasing the chapter house back to ATCHA, who would then lease the building to the active members of the chapter.

1530 Washtenaw Partners was formed in early 2004, and purchased the chapter house from ATCHA in December of 2005. Renovations to the common areas took place between February and September 2006, and windows were replaced in March 2007 (front of building) and October 2007 (back of building).

1530 Washtenaw Partners continues to work in partnership with ATCHA to operate the chapter house in a manner that will keep it at maximum capacity, as well as to maximize revenue to pay down a sizeable mortgage assumed at the time of the renovation. Keeping the facility attractive to our tenants is also desirable, and for this reason ATCHA and the L.L.C. are committed to hiring a professional property management firm which will help us identify and prioritize needed repairs and capital improvements to the building and grounds.

Ed Lees '80 serves as the managing partner of 1530 Washtenaw Partners. Please contact Ed for further information or if you are interested in investing in this worthy group (312-782-7855 or ELF@excelsiorpartners.com).