ROCKFORD, Ill. — Affordable Housing Investment Brokerage Inc. (AHIB) has arranged the sale of Valkommen Plaza, a 171-unit affordable seniors housing community in Rockford, approximately 90 miles northwest of Chicago and southwest of Milwaukee.
A private investor sold the asset to Envolve Communities for $21.1 million. AHIB’s Kyle Shoemaker represented both both parties in the transaction.
Valkommen Plaza is a nine-story, elevator-serviced building with commercial spaces on the first floor, providing amenities such as a beauty salon, police sub-station and grocery for the local community.
In addition to the commercial spaces, every resident enjoys a storage locker and on-site laundry facilities, as well as a large lobby and community room that leads to a second-floor roof.
The property itself recently received a number of upgrades, including a roof replacement, new elevator machines, a new transformer and central air handlers. A number of unit kitchens and baths have also been updated.