|Park Place Apartment Community
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The portfolio consists of 166 total apartment units within 15 two- and three-story buildings. There is an assortment of one or two-bedroom units; some with two baths, some with a single bath. Units range in size from 800 sq. ft. to 1200 sq. ft.
The Company’s real estate investment plan has been developed by the sponsor to provide maximum return on equity while maintaining lower risk exposure. The scale and characteristics of real estate provides the investor with many layers of diversification, and the income stream.
The strength of the real estate market in conjunction with the experience of the sponsor provides for an opportunity to participate in a real estate focused investment that adds investment diversity and return potential to an accredited investors portfolio.
The subject is located in the Bloomington/Normal marketplace. Bloomington/Normal’s stability is attributed to its largest employer, State Farm Insurance. Based on the major growth, State Farm built a massive six-building Corporate South Complex ($400 million project) in southeast Bloomington.
The population of McLean County where property is located according to the 2010 Census was 168,611 which is an increase of 8,906 or 5.6% from 2005. The Bloomington/Normal community is centrally located in the heart of Illinois approximately 130 miles southwest of Chicago, Illinois.