“There’s just not enough physical people,” especially in skilled trades, to meet home-building demand, said Ivy Zelman, chief executive of real-estate research and advisory firm Zelman & Associates.

@Jordan Howard Ask your Realtor.

If the building is within a mile or 2 of one of the universities or the Lake,  I'd keep the studios and attract students and/or folks who want to be near the lake, but in Grand Crossing or Park Manor I'd execute a different plan.  

@Howard Montaque Thanks!

Technically you have options like small claim court, etc but in reality after you run the numbers for the cost, time, effort associated with executing those options you will see that it isn’t worth it and keeping their deposit is all that makes sense in this situation. 

I'm moving my real estate business and she just acquired an executive position in Davenport.

The contract was executed on 1/31/21 with a closing date of 3/19/21.

One thing about me is that I never limit my options and when I have my mind set on something, I look at every single option I have to execute my mission; BUT I never talk myself out of anything.

I don’t want to lose money in the mean time but I am buying the property as an underutilized asset and executing my strategy to add value and raise rents.

Get in the game and start executing.