Experience with Altus IG Real Estate LLC / Altus Investment Group and Kevin Dugan

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Timeline and Summary of Real Estate Experience with Altus IG Real Estate LLC / Altus Investment Group and Kevin Dugan

Initial Introduction (Approx. 7 Years Ago)

My daughter and I attended a real estate expo in Los Angeles.

We reconnected with my daughter's former schoolmate, who was active in real estate management and construction in Chicago.

He introduced us to his company, Altus IG Real Estate LLC (also known as Altus Investment Group), managed by Kevin Dugan.

First Property Purchase

We purchased our first rental property.

Kevin Dugan personally inspected the property and estimated renovations at \$30,000 (verbal estimate only).

Over six months, we were billed \$59,000 in renovation costs.

After delays and several emails, the property was finally rented.

The first year yielded a 12% CAP rate with no missed rent payments.

First Private Loan

Encouraged by the initial success, my daughter convinced me to provide a private loan to Kevin.

After one year, Kevin repaid the loan in full.

Second Property & Second Loan

We purchased a second rental property and extended another loan to Kevin.

Renovation costs escalated to \$75,000 without an itemized estimate.

Escalation of Issues

Rental income became inconsistent.

We received invoices for unexpected expenses (e.g., cleaning and utilities that tenants were supposed to cover).

Communication with the management team deteriorated.

Tax documents were incorrect and required significant effort to amend.

We began experiencing financial losses.

Conclusion and Legal Action

We sold both properties in Chicago, to halt further losses.

Kevin stopped repaying the second loan—interest payments ceased completely.

Multiple outreach attempts via phone, text, and email have been ignored.

We are currently seeking legal counsel to recover the unpaid loan.

The loan includes a personal guarantee from Kevin Dugan.

Public Warning

Kevin Dugan presents himself as a real estate investment expert on Instagram.

In our experience, his business practices were unethical and unsustainable—seemingly using new investments to pay off old debts ("robbing Peter to pay Paul"). We advise caution to anyone considering investing with him.

Request for Legal Assistance

If anyone can recommend a lawyer in Chicago, experienced in private lending recovery, please reach out.