05.28.19
Connect Chicago: Mixed-Income Apartments Come Up for Sale in Aurora
Kiser Group has listed for sale 2000 Illinois in Aurora, IL. The 128-unit, five-story property is listed for $10.4 million, and represented by Kiser Group’s Matt Halper and Danny Mantis.
“With historically high-occupancy and strong cash flow, we expect strong investor interest,” said Halper. “There is an opportunity to increase rents with the current condition of the units, and to reconfigure areas of the property to add amenities that complement the pool and courtyard. An ideal investor will have familiarity with affordable housing, since 32 of the units are income restricted to 60% AMI.”
The property features 104 one-bedroom units, 24 two-bedroom, 150 surface parking spaces and 52 covered parking spaces. An outdoor pool and sundeck are also available for the comfort of residents.
Currently more than 97% occupied, 2000 Illinois was originally constructed in 1973 and has seen substantial physical improvements under current ownership.
