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Property Sub Title H2

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DOC CENTER

Otate reped quam faceper runtotas magnis ra ipis magnatur, sit laudit ea quae sequis estem rat fugiatecum fuga. Namenistium volore cupta si repudit atectis exceatur, quibus, quosaeperum num quae name sed molupta ssimpori ut fugiate corit, sitis autentis elit modit omnim sum andaerorpore solorem et officim cuptatum natia sum adic totat fugit, sit fuga. Lore sus mi, serumquo doluptatet ute vero eicitas peruptatis eos et molupta speratem. Otatend igeniatem quae ent inullatur? Sapitat ioriati cumque minci vellici psante nobis doluptat.

DOC CENTER

2000-2004

Year Built

416

No. of Units

3

No. of phases

Traditions

bloomington, illinois

The Opportunity

 

Berkadia is pleased to present the exclusive opportunity to acquire Traditions, a 416-unit, three-phase LIHTC / Market property in Bloomington, Illinois, one of the fastest-growing cities in the state and optimally located midway between the massive employment hubs of St. Louis and Chicago. Traditions benefits from a great location that is close to shopping, employment centers, and offers direct access to main arterials, Interstate 55 and 74. With a mix of affordable/market-rate and both renovated/unrenovated units, Traditions offers a new owner a broad range of opportunities to begin to grow revenues and capitalize on inherent future upside while immediately generating a strong cash return.

 

OFFERING HIGHLIGHTS

 

  • Over $1.1 Million in Capital Improvements/ Upgrades Completed Since 2018
  • Outstanding Amenities Including Updated Clubhouse, Two Outdoor Pools, And 24/7 Fitness Center
  • 76 Units Immediately QC-Eligible for Market-Rate Conversion
  • Proven Value-Add of Market Rate Units Generating an Average $250/Month Rental Premium
  • Attractive, Well-Maintained Early 2000’s Vintage Asset with Direct Access and Open Floor Plans
  • Projected to Be Sold at Well Below Replacement Cost
  • Average AMI Increase Of 3.03% Per Year Over the Past 10 Years

Amenities

Community Amenities:

 

  • 24/7 Fitness Center with Yoga Studio
  • Business Center/Conference Room
  • Poolside Lounge Area
  • New Community Playgrounds
  • Outdoor Pergola & Grilling Areas
  • Two Outdoor Pools
  • Off-Street Open Parking
  • Nearby Walking Trails

Unit Amenities:

 

  • Vinyl Wood-Plank Flooring*
  • Designer Lighting & Hardware Package*
  • Stainless Steel Kitchen Appliances*
  • Modern Kitchen Cabinetry Fronts
  • Built-In Kitchen Microwave*
  • Dishwasher & Garbage Disposal
  • Walk-In Closet(s) & Ceiling Fans
  • Private Patio or Balcony Space
  • Central Heating & Air-Conditioning System
  • Water, Sewer & Trash Removal Services Included

*Select Units

 

AErials

photo gallery

Investment Advisors

Affordable Housing Group

Jeff Irish

Senior Managing Director

Phone: ​ 208.286.5013

Jeff.Irish@berkadia.com

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. ​ ​ This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada. ​ ​

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