SVN Chicago Commercial brokered the sale of a 238-unit portfolio encompassing three multifamily properties across Illinois.
This Portfolio, comprising 100% HAP (Housing Assistance Payments) contracts for elderly residents, sold for $16 million. The properties include addresses at 320 N Harlem Avenue in Freeport, IL; 202 S Roosevelt Avenue in Bloomington, IL; and 109-111 W Market Street, also in Bloomington, IL.
Eighteen years after their initial engagement with the Sellers, Reid and Cody facilitated the sale of multiple Multifamily and Affordable Assets for this family. Working closely together, they ensured a smooth and efficient transaction, closing out this Portfolio in just six months from contract to close.
“We were able to separate the portfolio into Elderly and Family housing to maximize the value and move forward with one of the most transparent and communicative buyers we have ever worked with in the space,” commented Reid Bennett, CCIM of SVN Chicago Commercial.
This transaction highlights SVN’s commitment to excellence in client service and strategic marketing, ensuring maximum value and a seamless experience for both sellers and buyers.
