3936 Eagle Dr | Rockford, IL 61103
The arbors
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The Opportunity
Berkadia Real Estate Advisors is pleased to present The Arbors, a well positioned 254-unit, workforce housing community located in Rockford, Illinois, the state’s third largest city. Built 1968-1972, The Arbors offers different building styles that create more of a neighborhood feel, which resulted from the long-term owner’s acquisition of several surrounding properties.
The property features a good unit mix of one- and two-bedroom floor plans as well as amenities not often found in a workforce housing community. The owner has invested significant capital over the years, completing basic unit upgrades to roughly 20% of the units, updated the central leasing center, fitness room, and business center. A new owner will have the opportunity to concentrate on adding value via further improvements. The property can be purchased at well below today’s replacement cost and offers outstanding immediate returns. The following pages outline the reasons we feel that the offering of The Arbors Apartments creates an excellent, long-term value-add opportunity.
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Patio/Balcony
Air Conditioning
Walk-in Closets
Kitchen Appliances Included
Cable Ready
Eat-in Kitchen
Controlled Access
Fitness Center
Business Center
27 Laundry Facilities
Total Parking - 300 Spaces
Amenities
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
CONTACT Us
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Investment Advisors
Mortgage Bankers:
Ralph DePasquale
Managing Director
312.845.8572
ralph.depasquale@berkadia.com BREA #471.011898
CHICAGO OFFICE
125 South Wacker Drive
Suite 400
Chicago, IL 60606
Milwaukee Office
833 East Michigan Avenue, Suite 950 Milwaukee WI 53202
Chris Blechschmidt
Senior Managing Director
312.845.8592
chris.blechschmidt@berkadia.com
Emily Stang
Director
312.845.8568
emily.stang@berkadia.com
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Desirable Workforce Housing with Great Scale at 254 Units
Untapped Value-Add Potential
Good Location within Strong Rockford Market
Pricing Well Below Replacement Cost
Long-Term Ownership - Potential for LIHTC
Exceptional Potential Immediate Returns with Positive Leverage
INVESTMENT HIGHLIGHTS
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The Opportunity
Investment Highlights
LOCATION
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