Midwest Regional Office

“ We are pleased to provide financing on this project, which, given its excellent suburban Chicago location, solid functional buildings and unit lay-outs, is well-suited for the sponsors' plans for further upgrades to the property. This transaction is another example of our ability to provide attractive value-add financing that allows the sponsors to execute their repositioning plans.”
— John Howard, Senior Director

• The property recently underwent renovations totaling $9 million, and a capitalized renovation plan that will further solidify the property’s standing is planned
• 408 residential units spread across 33 two-story apartment buildings
• Low-density living with 15.86 units/acre
• Good suburban Chicago location in close proximity to major traffic arteries, as well as public bus and rail transportation, providing access to employment centers, retail, and services
• Five year term with extension options

Source: REI Midwest Regional Office, June 2017.