Map pinStreator, IL, US, Americas

Schmitt Meadows Apartments

Schmitt Meadows Apartments_Property for Sale

Attributes

Number of units
104
Occupancy
100%
Rentable area
6,242 m²
Land area gross
12.54 ha

Portfolio description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale Schmitt Meadows I & II, a 104-unit, 100% LIHTC property in Streator, IL. Additionally, the offering is a Senior LIHTC property, which adds stability to operations through reduced turnover and management costs. The Property is currently 100% occupied and the average tenant tenure is eight years. The Offering also presents investors with the opportunity to assume an existing loan held by the Illinois Housing Development Authority, thereby benefitting from a low overall cost of capital.

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Investment Highlights

  • Stable, Bond-Like Cash Flow & Lack of Affordability
  • Attractive Senior Asset
  • Accretive Existing Debt
  • Limited Supply & Strong Market Fundamentals
Schmitt Meadows Apartments 4_Property for Sale
Schmitt Meadows Apartments 4_Property for Sale
Schmitt Meadows Apartments (2 Properties)
Schmitt Meadows Apartments (2 Properties)

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Last updated
26 Sep 2024